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Direct tax collections till Oct 15 rise 40%
October, 19th 2007

The Centres direct tax revenues continue to remain buoyant, with collections up to October 15 this fiscal recording over 40 per cent growth to Rs 1,21,950 crore (Rs 86,751 crore).

While corporate tax collections grew 40.29 per cent, personal income tax collections recorded 41.13 per cent growth during the period under review.

An official release also said that growth of over 49 per cent in direct taxes deducted/collected at source was a strong indicator of increasing employment, employee compensation and private investments.

It also said that growth of about 30 per cent in advance tax collections is indicative of better profitability and improved cash flow in businesses particularly in the core, consumption and financial sectors.

Increase of 64 per cent in self-assessment tax confirms the trend of better tax compliance, the release added.

 
 
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