Direct tax mop-up to be close to revised target

The government had set a direct tax collection target of Rs3.70 lakh crore in the Budget for 2009-10, which was later revised upwards to Rs3.87 lakh crore

The government today informed the Rajya Sabha that direct tax collection during the just concluded fiscal has exceed the budget estimate and will be very close to the revised estimate of Rs3.87 lakh crore, reports PTI.

“Direct tax collection has already exceeded the budget target and will be reaching near the revised estimate when the final figures are compiled,” minister of state for finance SS Palanimanickam said in a written reply.

The government had set the direct tax collection target of Rs3.70 lakh crore in the Budget for 2009-10, which was later revised upwards to Rs3.87 lakh crore.

As per the provisional figures, the minister said, the actual collection of direct taxes during the year was Rs3.75 lakh crore. This would be revised upwards once the final figures are received, he added.

The minister further said that while corporate tax collection at Rs2.43 lakh crore was short of the Budget estimate of Rs2.56 lakh crore, the buoyancy was witnessed in case of other taxes which include income-tax and the securities transaction tax.

Collection of income-tax, securities transaction tax etc, during 2009-10 at Rs1.31 lakh crore was more than the Budget estimate of Rs1.12 lakh crore.
 

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