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India's direct tax receipt up 8.3 percent, but miss target
Friday, 22 May 2009, 01:50 IST |
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New Delhi: India's direct tax receipts were up 8.33 percent to 
3.38 lakh crore in 2008-09, the finance ministry said in a statement Thursday.
However the direct tax collections fell 6,000 crore short of the target of 3.45 lakh crore for 2008-09 fiscal.
This was despite the government lowering the collection target from 3.64 lakh crore to 3.45 lakh crore to allow for the dent the economic crisis could make on its revenues, the statement said.
According to the ministry, corporate tax collections were up 10.8 percent to 2.14 lakh crore last fiscal, while individual income tax receipts were up 9.1 percent at 1.24 lakh crore.
"Despite economic slow-down and substantial relief to non-corporate taxpayers, direct tax collections exceeded the previous year's collection by about 26,000 crore," the ministry statement said.
Corporate tax deducted at source registered a growth of 35.4 percent to 61,683 crore, compared to 45,450 crore the previous fiscal.
Source: IANS
3.38 lakh crore in 2008-09, the finance ministry said in a statement Thursday.
However the direct tax collections fell 6,000 crore short of the target of 3.45 lakh crore for 2008-09 fiscal.
This was despite the government lowering the collection target from 3.64 lakh crore to 3.45 lakh crore to allow for the dent the economic crisis could make on its revenues, the statement said.
According to the ministry, corporate tax collections were up 10.8 percent to 2.14 lakh crore last fiscal, while individual income tax receipts were up 9.1 percent at 1.24 lakh crore.
"Despite economic slow-down and substantial relief to non-corporate taxpayers, direct tax collections exceeded the previous year's collection by about 26,000 crore," the ministry statement said.
Corporate tax deducted at source registered a growth of 35.4 percent to 61,683 crore, compared to 45,450 crore the previous fiscal.
Source: IANS