Corporate tax kitty swells 25.64%

The Centre's corporation tax collections increased by 25.64 per cent to Rs 56,540 crore between April and December 20 this year, as against Rs 45,000 crore in the corresponding period last year.

The collections include the receipts from the third installment of advance tax which was payable up to December 15. The collections could increase marginally as some cheques were yet to be accounted for, finance ministry officials said here today.

According to the latest data available with the ministry, direct tax collection were estimated 23.46 per cent higher at Rs 94,710 crore between April and December 20 this year, as against Rs 76,715 crore during the corresponding period last year.

The government had budgeted for an increase of 32 per cent in its direct tax collections, which are estimated to touch Rs 176812 crore during the current financial year ending March 2006.

During April-November this year, personal income tax collections went up by 20.35 per cent to Rs 38,170 crore, as against Rs 31,715 crore during the corresponding period last year.

This year's mop up included around Rs 3,400 collected by way of fringe benefit tax, securities transaction tax and the banking cash transaction tax.

More the merrier

Total mop up was at Rs 56,540 crore for period between April and December 20 this year

The collections could increase marginally as some cheques are yet to be accounted for

The government had budgeted for an increase of 32 per cent in its direct tax collections

Direct tax collection likely to touch Rs 1,76,812 cr this fiscal