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 Tax and transparencya

Direct tax receipts up 41.8 pc in Apr-Dec
January, 11th 2007

India's direct tax receipts during the April-December period rose by 41.8 per cent from a year earlier to Rs 1.443 trillion ($32.4 billion) due to higher corporate earnings, the finance ministry said on Wednesday.

Robust earnings of companies boosted net corporate tax receipts by 51.8 per cent to Rs 924.63 billion in the first nine months of the fiscal year to March 2007.

Rising salaries pushed up income tax receipts by an annual 27.1 per cent to Rs 515.65 billion.

A booming stock market saw receipts from the securities transaction tax rise by 87.8 percent from the year-ago period to RS 32.26 billion, and the banking cash transaction tax added Rs 3.57 billion to the government kitty.

The fringe benefits tax registered a healthy growth of 65.2 per cent, generating receipts of 29.33 billion rupees.

 
 
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