Net direct tax collections during first four months of the present fiscal (up to July 2010) stood at Rs.85,647 crore, up from Rs.73,990 crore in the same period last fiscal, registering a growth of 15.75 percent. Growth in Corporate Income Tax was 20.95 percent (Rs.51,627 crore as against Rs.42,685 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 8.51 percent (Rs.33,940 crore as against Rs.31,279 crore).

Growth of Personal Income Tax was highest in Patna region (Bihar and Jharkhand) at 92.95 percent, followed by Lucknow region (UP-East) at 89.59 percent, Guwahati region (North-East) at 60.38 percent, Kanpur and Meerut regions (UP-West) at 46.63 percent and 43.58 percent. Growth of Corporate Income Tax was highest in Bhopal region (MP-Chhattisgarh) at 219.23 percent, followed by Nagpur region (parts of Maharashtra) at 86.36 percent, Patna region (Bihar and Jharkhand) at 74.03 percent, Delhi region at 73.26 percent, Bhubaneswar region (Orissa) at 55.92 percent and Pune region (parts of Maharashtra) at 39.48 percent.

Securities Transaction Tax, however, continued to grow negatively at 26.25 percent during the period (Rs.1,652 crore in FY 2010-11 as against Rs.2,240 crore in FY 2009-10).

More Under Income Tax

Leave a Comment

Your email address will not be published. Required fields are marked *