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Direct Tax collection up 20% at Rs 82,071 cr in FY03
May 05, 2003 19:06 IST
The Centre's Direct Tax collection was up by 20.39 per cent at Rs 82,071 crore (Rs 820.71 billion) during 2002-03 compared to Rs 68,170 crore (Rs 681.7 billion) mopped up in 2001-02, mainly due to an impressive 27 per cent surge in corporation tax collection.
Corporation Tax mop up grew by 27 per cent to Rs 46,266 crore (Rs 462.66 billion) during the last fiscal compared to Rs 36,427 crore (364.27 billion) in 2001-02, finance ministry officials told PTI in New Delhi on Monday.
In contrast, Income Tax collection was up by only 12.8 per cent at Rs 35,805 crore (358.05 billion) during the last fiscal compared to Rs 31,742 crore (Rs 317.42 billion) in the previous fiscal, they said.
Mumbai topped the list with a total direct tax collection of Rs 27,955 crore (279.55 billion) in 2002-03, which was 24.61 per cent higher than Rs 22,434 crore (224.34 billion) raised in 2001-02.
Mumbai was followed by Delhi with a collection of Rs 12,889 crore (Rs 128.89 billion), while Chennai, Bangalore and Meerut collected over Rs 5,000 crore (Rs 50 billion) in direct taxes.
In terms of Income Tax, Mumbai cornered the major slice mopping up Rs 8,614 crore (Rs 86.14 billion) in 2002-03, which was 22 per cent higher than Rs 7,061 crore (Rs 70.61 billion) raised in 2001-02.
Delhi was in the second position with Rs 5,121 crore (Rs 51.21 billion), which was 26 per cent higher than Rs 4,065 crore (Rs 40.65 billion) raised in the previous fiscal.
The other major centres -- Bangalore, Ahmedabad, Kolkata, Pune and Hyderabad -- raised over Rs 1,000 crore (Rs 10 billion) in income taxes during the last fiscal.
In terms of Corporate Tax, Mumbai was well ahead mopping up Rs 19,342 crore (Rs 193.42 billion) during 2002-03, which was 26 per cent higher than Rs 15,373 crore (Rs 153.73 billion) raised in 2001-02.
Mumbai was followed by Delhi (Rs 7,768 crore), Meerut (Rs 4,740 crore), Bangalore (Rs 2,506 crore) and Chennai Rs (2,382 crore).
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