Direct tax revenue up 33%

The government's direct tax revenue registered a growth of 33.1 per cent to Rs 44,140 crore during the period April to September 28, 2004, over the corresponding period a year ago.

The growth was mainly on account of increased income and corporate tax collections, as per data available with the finance ministry.

Direct tax collections in the six months was 31.6 per cent of the government's target of Rs 395,000 crore for the entire fiscal year.

Income tax revenue surged 69 per cent to Rs 24,320 crore during the same period from Rs 14,400 crore in the corresponding period last year, possibly due to lower refunds of excess tax paid in the current fiscal, finance ministry officials said.

However, corporate tax revenue rose just 5.7 per cent to Rs 19,820 crore during the six-month period from Rs 18,750 crore in the same period a year ago.