Direct tax mop-up rises over 19 per cent to Rs1,81,758 crore in April-September 2010

Net direct tax collection during April-September 2010 rose 19.09 per cent (against the budgeted annual growth target of 13.67 per cent) to Rs1,81,758 crore from Rs1,52,625 crore in the same period of the previous fiscal.

Net direct tax collection in the first half of fiscal 2010-11 is 42.27 per cent of the budgeted target of Rs4,30,000 crore for the whole fiscal.

Corporate income tax collection grew 21.74 per cent to Rs1,22,433 crore in April-September 2010 against Rs1,00,572 crore in April-September 2009 while personal income tax, including STT, and residual FBT/BCTT, grew 13.79 per cent to Rs59,053 crore from Rs51,897 crore in the first half of the previous fiscal.

Wealth tax collection was up 18.47 per cent at Rs263 crore during April-September 2010 against Rs222 crore in the previous year period, while collection of securities transaction tax declined by 10.38 per cent to Rs2,874 crore from Rs3,207 crore in the previous year period.

Direct tax collection recoded its highest growth of 26.12 per cent at Rs81,647 crore in September 2010 from Rs64,737 crore in September 2009, with corporate taxpayers paying the second installment (30 per cent) and non-corporate taxpayers the first installment (30 per cent) of advance income tax.