Direct tax mop-up grow 19% yoy

The net direct tax collection till March 17 stood at Rs3,12,800 crores with the Central Board of Direct Taxes (CBDT) expressing confidence of achieving the revised target of Rs 3.45 lakh crores by the close of this fiscal. The growth in tax collection has been 18.8% over the year-ago period. The total direct tax collection for the fiscal 2008-09 has so far already surpassed the net tax collection of Rs 3,12,202 crores made in the fiscal 2007-08. Till March 17, 2008, the net tax collection was Rs 2.63 lakh crores. A CBDT official said, corporate advance taxes have shown a growth of 17.5% against an 18% rise in the last fiscal. The corporate advance taxes collected so far stood at Rs 1,23,400 crores against Rs 1,05,100 crores made last year.