Tax Mop-Up In Q1 Falls By 12.89%

Tax collection in the first quarter (April-June) of 2001-02 has declined by 12.89 per cent to Rs 32,418.89 crore as against Rs 37,217.16 crore realised during the same period in 2000-01.

The dip in tax collection has been mainly on account of a drastic 62.93 per cent fall in corporate tax mop-up and 16.98 per cent decrease in the customs mop-up.

According to an official release, direct tax collections fell by 27.95 per cent to Rs 7,718.16 crore (Rs 10,712.05 crore) during the period April-June 2001. Income tax mop-up in Q1 this year stood at Rs 5,894.37 crore (Rs 5,950.77 crore).

Corporate tax collection during the period declined sharply to Rs 1,737.11 crore (Rs 4,686.39 crore).