Higher corporate taxes help govt beat target

Higher corporate taxes help govt beat target
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First Published: Fri, Mar 23 2007. 12 57 AM IST
Updated: Fri, Mar 23 2007. 12 57 AM IST
New Delhi: The direct taxes collected up to 21 March by the Union government exceeded the 2006-07 Budget estimates. This direct tax collection up to 21 March was Rs2,11,030 crore, marginally higher than the full year’s budget estimate of Rs2,10,419 crore. Data released by the finance ministry showed that buoyancy in corporation tax drove the direct tax collections. Corporation tax collection up to 21 March was Rs1,33,168 crore, higher by 44.89% more than last year. Total personal income tax, including securities transaction tax and fringe benefit tax, came to Rs77,573 crore, a jump of 30.86% over the earlier year. Total direct tax collection rose 39.31% on last year to touch Rs2,11,030 crore up to 21 March.
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First Published: Fri, Mar 23 2007. 12 57 AM IST