I-T kitty up marginally

Mop-up rises 4.5 per cent to Rs 16,311 cr during April-September 15.

Income tax collections rose marginally by 4.5 per cent to Rs 16,311 crore during April-September 15. This, in the face of direct tax collections growing 26 per cent to Rs 34,300 crore.

Officials, while maintaining that a lower income tax collection was expected because of the changes made in tax rates and slabs in the 2004-05 Budget, however, admitted that the low growth was an area of concern.

"Since collections up to September 15 also included non-salary and non-corporate income tax collections, the growth was expected to pick up in the second quarter. This, however, did not happen," an official said.

Income tax collections in Delhi declined by 5 per cent to Rs 2,160 crore while collection in Mumbai increased only marginally, by 2 per cent to Rs 4,331 crore. Similarly, collections in Kolkata also declined by 11 per cent to Rs 702 crore.
 

DOESN'T ADD UP All figures from April 1 to September 15 in Rs crore
Corporation Tax
	2004-05	2005-06	% Growth
Mumbai	2,525.25	4,575.31	81.18
Delhi	1,889.21	3,262.12	72.67
Bangalore	1,509.15	2,058.81	36.42
Chennai	996.37	1,490.90	49.63
Meerut	973.22	1,184.31	21.69
Income tax
Mumbai	4,250.06	4,331.28	1.91
Delhi	2,268.04	2,160.55	(-) 4.74
Bangalore	1,509.66	1,749.17	15.87
Chennai	1,106.88	1,285.13	16.1
Pune	933.82	957.9	2.58

Corporate tax collections touched Rs 18,000 crore up to September 15, against Rs 11,600 crore in the corresponding period the previous year, an increase of nearly 55 per cent.

Officials said the increase was mainly due to good mop-up from steel, insurance and auto sectors.

However, barring the Indian Oil Corporation, which had paid Rs 30 crore in the first quarter, none of the other oil marketing companies have paid advance tax so far.

"Collections have done well despite the oil companies not paying any advance tax," an official said. He added that on an average, the share of oil companies was around 10 per cent of the total corporate tax collected from Mumbai during a financial year.

The direct tax collection up to September 15 included wealth tax, which has increased to Rs 65 crore from Rs 55 crore last year. Official pointed out that refunds up to August 31 had decreased marginally to Rs 15,200 crore compared with Rs 15,400 crore in the corresponding period the previous year.