Friday, July 1 2005 12:17 Hrs (IST) - World Time -

New Delhi: Centre's income tax collections have recorded a 29 per cent decline, but corporate tax showed a whopping 166 per cent rise till June 23 of this fiscal against the corresponding period of 2004-05.

While income tax collections fell to Rs 7,091 crore during April-June 23 of this fiscal against Rs 9,987 crore in the corresponding period of 2004-05, corporate tax went up to Rs 9,079 crore against Rs 3,413 crore.

Official sources attributed the fall in income tax collections to rise in income tax exemption limit to Rs 1 lakh, restructuring of tax slabs in this year's budget and rise in refunds.

The measures have given a big relief to salaried class, they said.

Corporate tax collections reflected advance taxes, but did not include fringe benefit tax, which will figure in collections in September, the sources said.

Meanwhile, total tax collections rose by 29.58 per cent at Rs 22,415 crore during the first two months of this fiscal against Rs 17,297 crore of April-May, 2004-05.

While Rs 15,885 crore of total taxes were collected in May this fiscal against Rs 12,836 crore in the same month of 2004-05, Rs 6,530 went into the Government kitty in April this fiscal against Rs 4,461 crore of the first month of the previous financial year.