Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: TDS
 
 
News Headlines »
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice

Direct tax mop-up rises 41%
October, 11th 2006
Revenue Department hopes to collect Rs 15,000-20,000 cr more than estimates. The Revenue Department is hoping to top its financial year tax revenue estimates of Rs 327,205 crore by Rs 15,000-20,000 crore. The robust predictions come on the back of almost 41 per cent growth in direct tax collections, up to September this year. According to latest data with the Revenue Department, the overall direct tax collection for the April-September period of the current financial year was Rs 79,208 crore, as against Rs 56,278 crore collected during the same period last year. The increased tax mop-up in the current financial year, ministry officials said, is due to higher direct tax collections, and a similarly higher mop-up from Customs and service tax. Income tax collections in September stood at Rs 8,910 crore, compared with Rs 7,154 crore during the same month last year, an increase of over 24 per cent. Corporation tax collections stood at Rs 27,226 crore against Rs 20,427 crore in September 2005, up by 33 per cent. The total direct tax collection stood at Rs 36,228 crore, as against Rs 27,659 crore in September last year, an increase of 31 per cent. For the first half of the current financial year, corporation tax collection stood at Rs 49,813 crore, which was around 48 per cent more than the Rs 33,685 crore collected during April-September 2005-06. Income tax collections, inclusive of fringe benefit tax, securities transaction tax and banking cash transaction tax, of Rs 29,310 crore for the period under review, were almost 31 per cent higher than the collection of Rs 22,450 crore in the corresponding period last year. STT collections have gone up by over 100 per cent to Rs 2,099 crore till September as compared with Rs 1,029 crore for the same period last year. FBT mop-up has increased by 37 per cent to Rs 1,089 crore against Rs 795 crore during April-September last year, while BCTT collection increased by around 150 per cent to Rs 232 crore compared with Rs 93 crore in the first six months of the previous financial year. Revenue Department officials said Customs collections for the first six months is estimated to be around Rs 41,000 crore, which is around 32 per cent higher than the first half of the previous financial year. The higher collection is on account of bouyancy in non-oil imports. Service tax collection is also estimated to be on course to maintaining around a 60 per cent growth over the previous year. Officials said indirect tax collections was still being collated from the field formations and would be known later this week.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions