« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Cruise ship charters likely to get tax sops... ONGC, SBI, SAIL top advance taxpayers for Sept... » Govt collects over Rs 1 lakh crore from direct taxes October, 05th 2007 The booming economy helped the Centre collect 40 per cent more in direct taxes, comprising corporate and personal income taxes, at Rs 1,11,055 crore in the first half this fiscal from Rs 79,208 crore a year ago. Corporate tax recorded a growth of 41 per cent to touch Rs 72,240 crore till September 30 this fiscal, up from Rs 49,813 crore in the corresponding period of the previous year, according to an official statement here. Collections from this tax was the highest at 265 per cent in Bihar, not known for much industrialisation, along with Jharkhand. On the other hand, corporate tax collections fell 34 per cent in Vidarbha region. Personal income tax, including Fringe Benefit Tax (FBT), Securities Transactions Tax (STT) and Banking Cash Transaction Tax (BCTT), rose by 39 per cent at Rs 40,744 crore from Rs 29,329 crore in the corresponding period of the last fiscal. Vidarbha, which has been in the news for agricultural distress and farmers' suicides, witnessed the highest tax collection growth from this levy at 83 per cent. Country's financial capital Mumbai recorded a growth of 96 per cent in corporate taxes and 40 per cent in personal income tax. In contrast, the Delhi region saw collections from corporate taxes growing by only eight per cent and from personal income tax by 29 per cent. Bullish capital markets enabled the government to collect 48 per cent higher collections from STT, the statement said. Collections from BCTT, which was levied to keep track of black money, grew by 17 per cent, while revenue from FBT recorded a growth of 103 per cent. The government has set a target of collecting Rs 2,67,490 crore through direct taxes this year, which finance ministry officials said would be surpassed easily. In fact, direct tax collections are now expected to cross Rs 300,000 crore and for the first time would exceed the revenue from indirect taxes, officials said. According to the statement, advance tax payments increased by 30 per cent and tax deducted at source by 48 per cent during the first half. This indicates all-round buoyancy in taxes. Besides, self-assessment tax grew by 80 per cent, indicating better tax compliance, the statement said.