Veeresh Malik
Maruti’s Mix & Match

Veeresh Malik explains how Maruti Suzuki takes an engine from its inventory and combines it to...

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The Joys of Uncertainty

The market is riding high on optimism. It’s time to be cautious

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Direct tax collections up 14% in Apr-Aug

New Delhi: Direct tax collections shot up by 13.91% to Rs1,00,112 crore in the first five months of the 2010-11 financial year till August, reports PTI quoting the finance ministry.

During the corresponding period (April to August) last fiscal, direct tax collections stood at Rs87,888 crore.

As per data released by the Central Board of Direct Taxes, corporate tax collections grew by 17.05% to Rs57,750 crore in April-August, 2010, from Rs49,339 crore in the corresponding five-month period a year ago.

Meanwhile, personal income tax (PIT) collection - including securities transaction tax, residual fringe benefit tax and banking cash transactions tax - rose by 9.68% to Rs42,217 crore from Rs38,491 crore.

The Patna region, comprising Bihar and Jharkhand, led the growth in PIT collections, registering a 90% jump in PIT.

In comparison, the Lucknow region (UP-East) registered a growth of 70% in PIT, while the Guwahati region (North-East) saw a 48% growth and the North Western region (Chandigarh) witnessed a 42% jump in PIT collections.

Growth in corporate income tax collection was highest in the Bhopal region (MP-Chhattisgarh) at 185%, followed by the Delhi region (at 63%), and the Nagpur and Pune regions (parts of Maharashtra) at 61% and 52%, respectively.

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