India's direct tax collection up 15.75 per cent in April-July 2010

Net direct tax collections in the country grew 15.75 per cent in the first four months of the current financial year (April-July 2010) and stood at Rs85,647 crore as of end-July against Rs73,990 crore in the same period of the previous fiscal.

Corporate income tax collection rose 20.95 per cent to Rs51,627 crore from Rs42,685 crore in the similar period in the previous year, while personal income tax (including STT, and residual FBT and BCTT) grew 8.51 per cent to Rs33,940 crore during April-July 2010 from Rs31,279 crore in April-July 2009, official data showed.

Patna region (including Bihar and Jharkhand) recorded 92.95 per cent growth in personal income tax collection, the highest in the country, followed by Lucknow region (UP-East) at 89.59 per cent, Guwahati region (North-East) at 60.38 per cent, Kanpur and Meerut regions (UP-West) at 46.63 per cent and 43.58 per cent, respectively.

Bhopal region (MP-Chhattisgarh) recorded the highest growth in corporate income tax collection at 219.23 per cent, followed by Nagpur region (parts of Maharashtra) at 86.36 per cent, Patna region (Bihar and Jharkhand) 74.03 per cent, Delhi region 73.26 per cent, Bhubaneswar region (Orissa) 55.92 per cent and Pune region (parts of Maharashtra) at 39.48 per cent.

Securities transaction tax (STT) collection, however, continued to show a negative growth of (-)26.25 per cent at Rs1,652 crore during the period against Rs2,240 crore in the previous financial year (2009-10).