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Direct tax collection in Q1 up by 15%.

DIRECT tax collection, which includes corporate tax and personal income tax, went up by over 15 per cent during the first quarter ( Q1) of the current fiscal due to higher realisations from big companies, which performed better this year as the economy has been gaining momentum.

The direct taxes kitty touched Rs 68,675 crore during the quarter, up from Rs 59,465 crore during the same period last fiscal, figures released by the finance ministry on Tuesday showed.

Corporate tax collection jumped by 21.65 per cent to Rs 43,439 crore during the period. But the realisation from personal income tax, securities transaction tax ( STT) and banking cash transactions tax grew by 1.24 per cent to Rs 24,075 crore during the April- June period. The realisation from STT fell to Rs 1,094 crore, from Rs 1,462 crore in the first quarter of last fiscal.

As regards advance tax, the first quarter witnessed the highest rise of 31.4 per cent to Rs 26,876 crore, up from Rs 20,456 crore during the same period last fiscal.

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Publication:Mail Today (New Delhi, India)
Date:Jul 7, 2010
Words:199
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