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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Direct Tax »
 Direct tax collection exceeds target in FY18
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket
 How to file Income Tax Returns online in five simple steps
 Income tax returns (ITR) deadline over; how belated returns filing will impact you

Direct Tax collections registers 32.54% growth during first half of this fiscal
October, 06th 2008

Net direct tax collections during first six months of the present fiscal (up to September 2008) stood at Rs.147,197 crore, up from Rs.111,055 crore, registering a growth of 32.54 percent. Growth in Corporate Taxes was 35.65 percent (Rs.95,283 crore as against Rs.70,240 crore), while Personal Income Tax (including FBT, STT and BCTT) grew at 26.94 percent (Rs.51,701 crore as against Rs.40,729 crore). Growth of Fringe Benefit Tax (FBT) was 62.23 percent (Rs.3,580 crore against Rs.2,207 crore); Securities Transaction Tax (STT) was 2.72 percent (Rs.3,182 crore against Rs.3,098 crore); and Banking Cash Transaction Tax (BCTT) was 17.65 percent (Rs.320 crore against Rs.272 crore).

Growth in corporate tax deducted at source (TDS) remained above 52 percent; and PIT TDS grew at 28 percent despite substantial tax relief allowed to individual taxpayers in the Union Budget 2008. Corporate TDS collections stood at Rs.30,810 crore as on 30th September 2008 against Rs.20,210 crore during the corresponding period last year. PIT TDS stood at Rs.33,276 crore as against Rs.26,002 crore in the same period. Self-assessment tax paid by both corporate and non-corporate taxpayers, voluntarily before filing their tax returns, registered substantial growth at 111 percent and 71 percent, respectively.

Continued high growth in TDS and FBT collections indicates inherent strength of the Indian economy and continued improvement in tax administration. Higher growth in self-assessment tax indicates continued improvement in tax compliance levels.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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