« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  Murthy for corporates foregoing tax waiver... ICFAI to train students to be teachers... » CBDT ups direct tax mop-up target by 12% January, 18th 2007 Buoyed by robust collections over the last three quarters, the Central Board of Direct Taxes (CDBT) has raised its annual target for direct tax collections by 12 per cent for 2006-07.    The CBDT now proposes to mop up around Rs 2,30,000 crore, against the 2006-07 budget estimate of Rs 2,05,000 crore.    While targets have been enhanced for all centres, the highest increase has been set for Mumbai, which is the biggest contributor to the direct tax kitty.    Mumbais collection target has been increased by Rs 10,000 crore to Rs 79,000 crore.    This enhancement is based on the assumption that collections will be up by 40 per cent over last fiscal.    Though the traditional mainstays, the oil companies, have not contributed significantly to boosting the tax collections this year, the banking and manufacturing sector have done very well.    This is in contrast to the previous year, when the poor performance of banks, insurance oil and telecom companies had contributed to a shortfall in direct tax collections.    While rising crude prices took a toll of the oil marketing companies, signs of increasing interest rates had affected banks treasury books.    However, in 2006-07, credit pick-up and rising interest rates have boosted the balance sheets of banks.