Direct tax mop-up at Rs 63,026 crore till Dec 22

The direct tax collections surged 22 per cent to Rs 63,026 crore till December 22. The surge in tax mop-up is mainly due to industrial revival and better corporate results.

The accrual to the Centre during the corresponding period last year was Rs 51,647 crore. The collections up to December 22 account for 65.09 per cent of the Budget target of Rs 95,569 crore for 2003-04, finance ministry officials said.

The corporation tax collected during the period was Rs 37,091 crore, up 29.6 per cent from last year's level.

This accounts for 72 per cent of the Budget target of Rs 51,499 crore for this financial year.

The collection during the corresponding period in the previous financial years was Rs 28,614 crore.

Income tax collection surged 12.6 per cent to Rs 25,935 crore till December 22, which was 58.8 per cent of the Budget target of Rs 44,070 crore.

Last year, the collection during the period under consideration was Rs 23,033 crore.