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Tax collections up 40 per cent
Special Correspondent
NEW DELHI: Backed by a buoyant economic growth and increased tax compliance, the Union Government has been able to post a 40 per cent jump in direct tax collections that touched Rs. 1,21,950 crore till October 15 this fiscal against Rs. 86,751 crore during the same period last fiscal.
According to an official statement, corporate tax witnessed a huge increase contributing Rs. 75,549 crore, up by 40.3 per cent from Rs. 53,853 crore during same period in the previous fiscal. At the same time, personal income tax, fringe benefit tax, securities tax and banking cash transaction tax fetched the Government 45.1 per cent more at Rs. 46,320 crore against Rs. 32,821 crore.
The bull-run in the stock market ensured the Government made hay with a collection of Rs. 3,784 crore through securities transaction tax, up 48.1 per cent.
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