Direct tax collection for FY08 expected at Rs 3,12,000 cr

New Delhi, Apr 23 (UNI) Direct tax collections for fiscal 2007-2008 is at a provisional Rs 3,09,000 crore and is expected to reach Rs 3,12,000 crore, said CBDT Chairman Prasanna K Mishra.

The final figures will be available only by April-end as the.

The Reserve Bank of India has instructed banks to remain open till late hours on the last day of the financial year to accept tax receipts.

Finance Minister P Chidambaram had revised upwards the direct tax target to Rs 3,05,000 crore from an earlier estimate of Rs 2,67,490 crore for 2007-08 in the Budget.

The indirect tax target, however, was kept almost at the same level of Rs 2,78,000 crore.

Mr Prasanna said Personal Income tax reciepts will be about Rs 1,10,229 crores and Corporate tax at Rs 1,89,302 crore UNI BJR PBB DB2101