Up, India (PressExposure) June 02, 2009 -- According to the tax collection data of the year 2008-09, the collection figure of personal income tax has declined in 9 metro cities which include the likes of Mumbai, Bangalore, Chennai and Hyderabad. However, a growth of 8% is witnessed in the total direct tax collection during the fiscal.
Some other cities in the list of lower income tax collection are Nagpur, Meerut, Bhopal, Bhubneshwar and Guwahati. These collections have gone down due to the economic slowdown prevailing in all over the world.
According to the data, Mumbai fell short by Rs.2,275 crore in the personal income tax collection segment or 5.6% in the last fiscal, if compared to the one year old data. Bhopal division has recorded the biggest decline in the collection which is 43%.
The fringe benefit tax, banking cash transaction tax and securities transaction tax are included in the personal income tax. The direct tax is registered under the Central Board of Direct Taxes and include personal income tax and corporate tax in it.
However, cities like Cochin, Ahmedabad, Delhi, Kolkata, Chandigarh, Jaipur, Patna, Kanpur and Lucknow has shown the growth in the personal income tax collection.
Lucknow posted a total growth of 23% in the personal income tax collection while Kolkata witnessed a growth of 20% and Jaipur has shown the income tax collection growth of 16%. The overall tax collection has recorded the rise of 4.26% at Rs.1,23,967 crore in the year 2008-09.
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