No. 402/92/2006-MC (06 of 2009) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes

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New Delhi dated the 5^thMarch 2009

PRESS RELEASE

Net direct tax collections during first eleven months of the present fiscal (up to February 2009) stood at Rs.258,902 crore, up from Rs.232,676 crore, registering a growth of 11.27 percent. Growth in Corporate Taxes was 16.79 percent (Rs.162,617 crore as against Rs.139,241 crore), while Personal Income Tax (including FBT, STT and BCTT) grew at 3.03 percent (Rs.95,930 crore as against Rs.93,111 crore). Growth in Fringe Benefit Tax (FBT) was 20 percent (Rs.6,267 crore as against Rs.5,233 crore) and in Banking Cash Transaction Tax (BCTT) was 14.46 percent (Rs.588 crore as against Rs.513 crore). Securities Transaction Tax (STT), however, declined by 35.54 percent (Rs.5,079 crore as against Rs.7,879 crore).

During this period, Corporate tax deducted at source (TDS) growth was 38.3 percent (Rs.55,043 crore against Rs.39,805 crore last year) and PIT TDS growth was 18.6 percent (Rs.59,533 crore against Rs.50,217 crore last year).

Direct tax collections have so far reached 70.93 percent of the Budget Estimates target of Rs.3,65,000 crore, and 76.37 percent of the Revised Estimates target of Rs.3,45,000 crore.

Direct tax collections rise, corporate tax growth outpaces personal income tax while TDS receipts strengthen fiscal realisation. Direct tax receipts for the first eleven months of the fiscal are reported as having increased year-on-year, with aggregate net collections showing overall growth and progress toward annual targets. The statement highlights a pronounced Corporate Tax increase compared with more modest Personal Income Tax growth, records rises in Fringe Benefit Tax and Banking Cash Transaction Tax alongside a decline in Securities Transaction Tax, and notes increased Tax Deducted at Source collections for both corporate and personal streams.