Direct tax revenues jump 128 pc in Apr as refunds fall
The government's revenues from direct taxes more than doubled to Rs 5,441 crore in April 2007 despite a decline in gross collections as refunds fell 67 per cent during the month.
Gross direct tax collections, comprising personal income tax, corporate income tax and other small levies, declined 20 per cent to Rs 7,935 crore in April 2007 from Rs 9,940 crore a year ago, Finance Ministry sources said.
But net collections rose 128.4 per cent to Rs 5,441 crore from the year-ago level of Rs 2,832 crore as refunds fell to Rs 2,494 crore from Rs 7,558 crore a year earlier.
The sources attributed the fall in gross tax collections to a shift in the timing of demands raised. They said demands were raised till December against the earlier year pratice of March, which used to get reflected in the figures of April.
While gross collections in personal income tax rose by 4.32 per cent, it declined by 39.25 per cent in the case of corporate income tax.
Personal income tax collections stood at Rs 4,450 crore in April 2007 against Rs 4,352 crore in the same month last fiscal, while corporate income tax was Rs 3,392 crore against Rs 5,584 crore in April 2006.
Sources said corporate tax figures will rise with the first instalment of quarterly payment of advance taxes by June 15. These were only tax deducted at source figures, they said and attributed the fall in corporate tax collections to this factor.
Delhi's air quality was in the satisfactory category on Friday morning as the minimum temperature was expected to be 27 degrees Celsius and the maximum 34 degrees Celsius. On Thursday, the average 24-hour AQI was 75 in the satisfactory category. An AQI between zero and 50 is considered good, 51 and 100 satisfactory, 101 and 200 moderate, 201 and 300 poor, 301 and 400 very poor, and 401 and 500 severe.
A massive fire broke out at Alento hotel near Gujarat's Jamnagar on Thursday night around 8pm. The fire was doused and brought under control, police officials said. Of these 20 were staff members and 27 were guests at the hotel, KK Babariya, a police official who was present at the spot said. Most of them were safely out of the hotel within minutes of the fire. The guests at the hotel mostly comprised of employees and visitors of these factories.
Free bus services will be provided for the public across Bengaluru on August 15 as India celebrates 75 years of independence, the Bengaluru Metropolitan Transport Corporation has announced. On Thursday, the BMTC issued a statement regarding their silver jubilee celebrations. The BMTC also announced that they will be offering 300 electric buses to the public which are going to be launched on August 14 at Vidhana Soudha of Bengaluru.
Highlighting that the COVID-19 positivity is on the rise, Karnataka Health Minister K Sudhakar on Thursday said only 17 per cent of people have taken booster shots, and urged all to get the additional dose of the vaccine. "Not taking the booster dose of the COVID-19 vaccine even when it has been made available free for everyone amounts to negligence and we as responsible citizens must avail it to enhance immunity," Sudhakar said.
Three more witnesses, including two policemen, were examined in the Gauri Lankesh murder trial at the special court for Karnataka Control of Organised Crime on Thursday. Trial Judge CM Joshi presided over the trial. Police inspector Shiva Reddy, who arrived at the murder scene was examined by the special public prosecutor and also questioned by the defence. The second witness who was examined on Thursday was Public Works Department, assistant engineer, VN Kalageri.