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: due date for vat payment :: TDS :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARD :: VAT Audit :: VAT RATES :: ACCOUNTING STANDARDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Direct Tax »
  CBDT to waive interest if tax demand paid in retro cases
 No relief to those who defaulted on 1st IDS installment: CBDT
 6 tax tasks you should finish by March 31
 CBDT to waive interest if tax demand paid in retro cases
 CBDT to waive interest if tax paid in retrospective cases
 New move to settle retrospective tax cases, CBDT offers interest liability waiver to firms
 I-T department guidelines for interest waiver in specific cases offer tax relief
 ICDS provisions to prevail over judicial precedents: CBDT
 CBDT forms committee to check absconding I-T dept officers
 Central Board of Direct Taxes asks taxman to make all out efforts to recover arrears
 CBDT to honour honest taxpayers

Taxmen to bank on high profit segments to meet target
October, 15th 2011

Faced with an increased and "difficult" direct taxes target of Rs 5.85 lakh crore this fiscal, the taxmen will focus on high profit-making segments of the economy, a top official said today.

"These are difficult targets to achieve...We will check sections of the economy where profits are high, will compare returns (with) what they are paying in advance taxes," Chairman of the Central Board of Direct Taxes (CBDT) M C Joshi said on the sidelines of an Assocham function here.

But he did not elaborate as to which all sections will come under the increased vigilance.

Joshi said though the target of Rs 5.85 lakh crore is "difficult" in the backdrop of "not very good economic environment", the authorities would put in place measures in the next few months raise collections.

The CBDT has revised the target upward by 10%(Rs 53,000 crore) for the current fiscal to keep the fiscal deficit at the budgeted level of 4.6%of the Gross Domestic Product.

Personal income tax and the corporate tax are the two main sources of the direct tax colletions which contribute bulk of the total government revenue.

Country's industrial output has remained subdued during July and August leading to fears that it would have impact on the GDP numbers in the second quarter.

However, Joshi said "We are confident as we move towards next instalment (of advance tax). We will get significant amount of tax".

The overall advance tax collections which increased by 12%in the September quarter were below the target of  19%growth.

He said the gross direct tax collections are not "bad", which rose by 23%to Rs 2,57,042 crore in the first six months of 2011-12.

Addressing the function, Joshi said India was playing a major role in the global crusade against black money and has completed negotiations for new tax information exchange agreements (TIEAs) with 16 countries and sovereign jurisdictions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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