Direct tax collections up by 42.5%

New Delhi, Dec 20 (UNI) The net direct tax collections as on December 18, 2006 stood at Rs 1,33,461 crore, up by 42.5 per cent over the corresponding period last year.

The corporate taxes were up by 51.2 per cent at Rs 83,614 crore, while income tax (including FBT) was up by 26.6 per cent at Rs 46,114 crore.

Securities Transaction Tax (STT) and Banking Cash Transaction Tax (BCTT) also grew by 96.8 per cent and 92.4 per cent and stood at Rs 3,381 crore and Rs 352 crore, respectively.

As on this date, corporate advance tax stood at Rs 59,393 crore, up by 38.51 per cent over previous year's collection of Rs 42,881 crore.

Corporate advance tax in the month of December 2006, however, went up by 46.4 per cent compared to December 2005, indicating continued and stronger performance by the industry.

Advance income taxes have also shown healthy growth, increasing by 26.3 per cent up to December 2006 and by 38.47 per cent during the month of December 2006, compared to corresponding periods last year.

As against the targeted growth of 27.5 per cent over last year as per the Budget Estimates for fiscal 2006-07, direct tax collections have grown by 45.3 per cent so far.

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