Home / Knowledge / News / Direct tax collections continues to record growth of 40%
Direct tax collections continues to record growth of 40%
Feb '08
Direct tax collections continued to record a growth of over 40 percent for the 1st April 2007 to 15th February 2008 in the current fiscal.

Net direct tax collections stood at Rs.2,28,745 crore, up from Rs.1,61,776 crore during the same period last fiscal, registering a growth of 41.40 percent and achieving over 85 percent of budgeted direct tax target of Rs.2,67,490 crore.

Corporate Tax registered a growth of 38.78 percent at Rs.1,38,073 crore, up from Rs.99,488 crore during the previous fiscal, while Personal Income Tax (including FBT, STT and BCTT) grew by 45.64 percent at Rs.90,356 crore, up from Rs.62,040 crore.

Growth in Securities Transaction Tax (STT) was 84.64 percent (Rs.7,878 crore against Rs.4,267 crore) and Fringe Benefit Tax (FBT) was 29.75 percent (Rs.5,216 crore against Rs.4,020 crore). Banking Cash Transaction Tax (BCTT) grew by 16.81 percent (Rs.478 crore against Rs.409 crore).

Mumbai region has recorded the highest overall growth at Rs.83,363 crore compared to Rs.50,227 crore in the same period last fiscal (i.e. 65.97 percent) and its contribution to the direct tax collections in the country so far is 36.86 percent.

Among type of taxes, self-assessment tax (paid voluntarily before filing of tax return) recorded a growth of 62.9 percent while tax deducted / collected at source recorded a growth of 51.9 percent, indicating improved tax administration and better tax compliance levels.

Press Information Bureau Government of India

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search