Direct tax collections up 40 pc in Apr-Sept

New Delhi, Oct 4 (UNI) Country's direct tax collections grew 40 per cent during the April-September period to Rs 1,11,055 crore in comparison to Rs 79,208 crore during the same period last fiscal.

Corporate tax were up 41 per cent at Rs 72,240 crore during the first six months of the current fiscal as against Rs 49,813 crore during the previous fiscal, an official statement said today.

Personal income tax collections rose 39 per cent to Rs 40,744 crore, up from Rs 29,329 crore, the statement added.

The growth in Securities Transaction Tax (STT) was 48 per cent and Banking Cash Transaction Tax (BCTT) was 17 per cent. Fringe Benefit Tax (FBT) recorded a growth of 103 per cent.

In terms of payment types, advance tax increased by 30 per cent and tax deducted at source (TDS) by 48 per cent indicating all-round buoyancy in taxes.

Self-assessment tax grew by 80 per cent, indicating better tax compliance levels.

Among regions, corporate tax growth was the highest in Bihar and Jharkhand at 265 per cent, while it was negative in Vidarbha at 4 per cent. Personal income tax growth was the highest in Vidarbha at 83 per cent, while it was lowest in the northeastern region at minus 17 per cent. Mumbai region recorded a growth of 96 per cent in corporate taxes and 40 per cent in personal income tax.

Delhi region recorded a growth of eight per cent in corporate taxes and 29 per cent in personal income tax.

UNI