November 4, 2010 4:52 PM

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Tax collection during April-Oct period crosses Rs 2 lakh crore<br/>

Buoyed by robust economic growth, net direct tax collections crossed the 2 lakh crore rupee mark during the April-October 2010 period, an increase of around 18 per cent over the same period last year. An official statement said corporate tax collections grew 22.05 per cent, at 1.34 lakh crore rupees during the seven month period. Growth in collections from personal income tax, including securities transaction tax, residual fringe benefit tax and banking cash transactions tax, was 10.33 per cent, at over Rs. 69,700 crore. But collections from Securities Transaction Tax were down 6.8 per cent. Wealth Tax collections between April and October 2010 stood at Rs. 378 crore, an increase of 18.5 per cent. The Budget had estimated collections of Rs. 4.3 lakh crore from direct tax this fiscal.

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