Net tax revenues up by 38.3 %

New Delhi, Nov 1 (UNI) The buoyancy in the economy was today reflected in higher revenues for the government, with net tax collection galloping by 38.3 per cent till September this year.

The Net tax collection on September 28, 2006, stood at Rs 91,374 crore as against Rs 66,069 crore on September 28, 2005.

During this period, the Business Cash Transaction Tax (BCTT) was up by a hefty 125.5 per cent, the Securities Transaction Tax (STT) was higher by 96 per cent; Corporate Tax increased by 38.2 per cent; and Income Tax rose by 24.4 per cent and Fringe Benefit Tax(FBT) increased by 23.5 per cent.

The combined BCTT and STT stood at Rs 2,939 crore from April to September 28, 2006, as against Rs 1,589 crore during the same period period last year; Corporate tax was Rs 55,549 crore as compared to the figure of Rs 38,199 crore and the total of Income Tax and FBT is Rs 32,886 crore against the figure Rs 26,281 crore for the same period.

These figures were released here by a Spokesman of the Central Board of Direct Taxes(CBDT).

The region-wise increase over the last fiscal in Corporate tax is as follows: --- Mumbai: 58.2 per cent( up from Rs 10,328 crore to Rs 16,340 crore); --- Delhi: 56.2 per cent (up from Rs 7,438 crore to Rs 11,617 crore); -- Bangalore-- 39 per cent (up from Rs 3,663 crore to Rs 5,091 crore); --- Chennai--- 53.8 per cent (up from Rs 2,654 crore to Rs 4.084 crore); --- Kolkata-- 36.4 per cent (up from Rs 2,126 crore to Rs 2,899 crore).

The fastest growth was in Jaipur 190.6 per cent; with Chandigarh registering a growth of 126.8 per cent and Patna was 119.4 per cent.

The region-wise increase in Income Tax and FBT over the same p[eriod last year (April- October); --- Mumbai--- 30.2 per cent (up from Rs 6,945 crore to Rs 9,045 crore); --- Delhi-- 5.1 per cent (up from Rs 3,664 crore to Rs 3,853 crore ); --- Bangalore--30.4 per cent (up from Rs 2,925 crore to Rs 3,813 crore); --- Chennai-- 10.6 per cent (up from Rs 2,244 crore to Rs 2,483 crore); The fastest growth has been recorded in Guwahati at 209.2 per cent; Bhubaneshwar registered a growth rate of 160.9 per cent and Hyderabad 51.1 per cent.

The Corporate returns filed through e-filling on November 1, 2006, stood at 34,000, the spokesperson added.

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