More than 43 per cent increase in direct tax: Govt

Friday, November 30, 2007, 16:33 [IST]

New Delhi, Nov 30: The net collection of direct taxes during April-October 2007 was Rs 128,864 crore, a 43.15 per cent increase over the corresponding period of the last fiscal, the Lok Sabha was informed today.

Of this, the corporate tax collection was Rs 78,785 crore (a 45.70 per cent rise), and personal income tax collection Rs 50,079 crore (a 39.32 per cent rise), Minister of State for Finance S S Palanimanickam said in a written reply.

Tax Deduction:

A total of Rs 70,689 crore as tax was deducted at source during 2006-07, of which Rs 41,641 crore was income tax and Rs 29,048 crore corporation tax, the Minister said.

During 2005-06 and 2004-05, the total tax deducted at source was Rs 58,606 crore and Rs 43,973 crore, respectively, he added.

UNI

Topics: finance, business, tax, govt, s s palanimanickam, lok sabha, income tax

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