DIRECT TAXES
| 17.2 per cent increase in Direct Tax Collection: Revenue Secy Thu, 28 Oct 2010 11:39:17 GMT |
| The Economic Times 17.2 per cent increase in Direct Tax Collection: Revenue Secy Revenue through Direct Tax collection rose by 17.2 per cent to around Rs 2.02 lakh crore as on September 30, 2010, which is 47 per cent of the finance ministry's budgetary target for the current fiscal, Sunil Mitra, revenue secretary, ministry of finance, said on Thursday. Speaking to reporters after participating in an interactive session on Direct Taxes Code, organised by Confederation of Indian Industry here, he said tax collection (both direct and indirect) target for the current fiscal is Rs 7.45 lakh crore. "Of this, Rs 3.15 lakh crore will be through indirect tax and Rs 4.30 lakh crore through direct tax", he said. Looking at the current growth and scenario in the country, tax collection in the current fiscal would increase by around 19 per cent compared to last year, he said. Mitra said direct tax net collection stood at Rs 2,02,121 crore as on Sept 30 this year, a 17.2 per cent increase compared to last year. Revenue from Customs between April and September 2010 was Rs 62,747 crore compared to Rs 37,907 crore last year, an increase of 65.5 per cent. Central Excise collection stood at Rs 60,360 crore, as against Rs 43,234 crore, a 39.6 per cent increase. Service tax collection rose by 16 per cent to Rs 26,889 crore from Rs 23,188 crore, he said. Earlier speaking to industry representatives on the DTC draft Bill, Mitra said the department has so far received 1,600 comments from stakeholders on the bill, which was put on the public domain last year. The main issues are MAT on gross assets, shift from exempt-exempt-exempt (EEE) system to exempt-exempt-tax (EET) and capital gains. "The DTC Bill is likely to be introduced in the Monsoon session,", he added. |
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