Direct tax collection up 25.4 pc

Direct tax collections surged by 25.4 per cent at Rs 78,243 crore till March 15, mainly due to impressive growth in corporate earnings in the country. While corporate tax collections rose by 37.3 per cent to Rs 44,140 crore, IT picked up by 12.8 per cent to Rs 34,103 crore two weeks before the fiscal end. The net direct tax collection, comprising income and corporate taxes, totalled Rs 78,243 crore till March 15, and was 75.8 per cent of the revised target of Rs 1,03,255 crore for 2003-04, a senior Finance Ministry official said. The direct tax collections, which were at Rs 71,993 crore till Feb, increased by Rs 6,250 crore during the first 15 days of this month.

—(PTI)