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Net direct tax collections up by 41 pc
December, 19th 2006

The Centre's net direct tax collections have surged by 41.55 per cent in April 1-December 15 period to Rs 1,09,000 crore as compared to Rs 77,000 crore collected in the same period last year.

This represents about 52 per cent of the budget estimate of Rs 2,10,684 crore for direct taxes in 2006-07. In fiscal 2005-06, the Centre's direct tax collections stood at Rs 1,65,208 crore. The direct tax collections in 2004-05 stood at Rs 1,32,771 crore.

Important instalment

Meanwhile, an official spokesperson of the Central Board of Direct Taxes (CBDT) said that the collections of Rs 1,09,000 crore do not include the December 15 instalment of advance tax, which is an important instalment for the tax department.

The officials said that advance tax collections for December 15 instalment have not been fully compiled by the department and other agencies, and clear picture is expected to emerge by December 25.

Corporates are expected to pay 75 per cent of their estimated tax dues for the financial year as advance tax by December 15.

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