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Tax collections up

By Our Special Correspondent

NEW DELHI DEC. 20. Net collections of direct taxes till December 15 have gone up by 23.5 per cent over the collections during the corresponding period of last year. In actual terms, net direct tax collections during April 1-December 15 increased by Rs. 9,178 crores to reach Rs. 48,192 crores. According to official information, the increase in corporate tax was Rs. 6,611 crores while income tax collections increased by Rs. 2,567 crores. Actual collections of corporate tax stood at Rs. 24,999 crores and income tax at Rs. 23,193 crores. These figures also include Central tax deduction at source of Rs. 463 crores up to September.

The budget estimate for corporate tax is Rs. 51,499 crores while income tax is expected to rake in Rs. 44,070 crores. Thus, collections up to December 15 work out to 50.4 per cent of the budget estimate whereas individually for corporate tax it is 48.5 per cent and 52.6 per cent for corporate tax.

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