Direct Tax Collection up by 40 per cent

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New Delhi, Feb (UNI) Maintaining the robust trend, Direct tax collections recorded a hefty growth of more than 40 per cent for the first ten months of the current fiscal-- reflective of the buoyancy of the economy.

Net direct tax collections stood at Rs 2,18,538 crore, up from Rs 1,55,576 crore during the same period last fiscal, registering a growth of 40.47 per cent and achieving more than 81 per cent of budgeted direct tax target of Rs 2,67,490 crore.

Corporate Tax registered a growth of 37.54 per cent at Rs 1,33,851 crore, up from Rs 97,315 crore during the previous fiscal.

Personal Income Tax (including FBT, STT and BCTT) grew by 45.45 per cent at Rs 84,349 crore, up from Rs 7,990 crore.

Growth in Securities Transaction Tax (STT) was 85.71 per cent (Rs 6,793 crore against Rs 3,658 crore) and Fringe Benefit Tax (FBT) was 30.74 per cent (Rs 5,161 crore against Rs 3,948 crore).

Banking Cash Transaction Tax (BCTT) grew by 14.51 per cent (Rs 460 crore against Rs 401 crore).

Overall direct tax collection growth was highest in the Mumbai region at 64.26 per cent; followed by North Western region (Chandigarh) at 48.19 per cent, Pune region at 44.37 per cent, Karnataka&Goa regions (Bangalore) at 43.76 per cent and Andhra Pradesh region (Hyderabad) at 39.53 per cent.

Corporate tax growth was highest in the North-Eastern region (Guwahati) at 254.30 per cent; followed by Bihar&Jharkhand regions (Patna) at 75.45 per cent, Kerala region (Kochi) at 71.61 per cent, Eastern Uttar Pradesh (Lucknow) at 71.46 per cent and Mumbai at 69.90 per cent.

Personal income tax growth was highest in Madhya Pradesh&Chhattisgarh regions (Bhopal) at 393.07 per cent; followed by Mumbai at 54.48 per cent, part of Western Uttar Pradesh region (Meerut) at 52.91 per cent, Andhra Pradesh region (Hyderabad) at 49.97 per cent, Eastern Uttar Pradesh (Lucknow) at 48.84 percent and Tamil Nadu Region (Chennai) at 48.41 per cent.

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