Mumbai has topped the collection of the fringe benefit tax, the securities transaction tax and the banking cash transaction tax during 2005-06 with Rs 4,638.75 crore (Rs 46.38 billion), according to city-wise data compiled by the finance ministry on a zonal accounts officer basis.
Collections for the fringe benefit tax from Mumbai were Rs 1,991 crore (Rs 19.91 billion), the banking cash transaction tax collection was Rs 153 crore (Rs 1.53 billion) while the securities transaction tax brought in Rs 2,994 crore (Rs 29.94 billion). Delhi was a distant second with a total collection of Rs 879.83 crore (Rs 8.79 billion) from the three taxes.
"The mop-up from the cities clearly reflects the presence of the corporates, the stock market or banks. There are no surprises. It is on expected lines," a finance ministry official said.
Delhi raked in Rs 847 crore (Rs 8.47 billion) from the FBT, Rs 0.6 crore from the STT and Rs 32.23 crore (Rs 322.3 million) from the BCTT. Bangalore was in third place with Rs 417 crore (Rs 4.17 billion) coming in from FBT, while the STT and BCTT brought in Rs 2.5 crore (Rs 25 million) and Rs 40.52 crore (Rs 405.2 million), respectively.
As regards FBT, Rs 417 crore (Rs 4.17 billion) was collected from Bangalore, Rs 289 crore (Rs 2.89 billion) from Kolkata and Rs 277 crore (Rs 2.77 billion) from Chennai.
Other cities which crossed the Rs 100-crore (Rs 1-billion) FBT mark included Meerut at Rs 104.68 crore (Rs 1.04 billion), Hyderabad at Rs 121 crore (Rs 1.21 billion) and Pune at Rs 161.25 crore (Rs 1.61 billion).
For Ahmedabad, the FBT figure was Rs 118.72 crore (Rs 1.18 billion) while its STT and BCTT collection reached Rs 5.08 crore (Rs 50.8 million) and Rs 3.34 crore (Rs 33.4 million), respectively.
The overall collections for the country during 2005-06 were Rs 4,749.06 crore (Rs 47.49 billion) FBT, Rs 2,512.95 crore (Rs 25.12 billion) STT and Rs 309.87 crore (Rs 3.09 billion) BCTT.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
