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 :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: empanelment :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Direct Tax »
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT
 Govt expects direct and indirect tax targets to exceed budget estimates this fiscal
 Tax recovery from Swedish majors in payment dispute put on hold
 CBDT signs three more advance pricing pacts
 Central Board of Direct Taxes signs three more ‘Advance Pricing Agreements’, reaches 120 in total
 Income Tax dept to ensure no grievance remains pending over 30 days

CBDT works overtime for review meeting with FM
October, 05th 2012

Amid muted direct tax collections and observations by Kelkar panel that the Budget figures on tax target are over-estimated, Finance Minister P Chidambaram will take a review meeting of the officers of the Central Board of Direct Taxes (CBDT) on October 8. The officials are working overtime in order to come fully prepared for the meeting with the finance minister who has an eye for detail.

Direct tax collections have remained subdued in the year so far due to a slow economic growth and sluggish industrial growth. The finance minister is likely to assess the current revenue situation and discuss the way forward to meet the Budget Estimate of Rs 5.7 lakh crore this year.

Gross direct tax collections merely increased by 6.51% to Rs 1,64,413 crore in April-August 2012-13, against Rs 1,54,361 crore in the same period last year. The muted growth can be attributed to almost flat corporate tax collections during the five-month period.

CBDT Chairperson Poonam Kishore Saxena and all members of the Board as well as joint secretaries, commissioners of income tax, deputy secretaries, directors, under secretaries and Direct General of Income Tax (Systems) will attend the meeting. To make suitable preparations for the review meeting all of them have been asked to work on October 7, which is a Sunday.

The Vijay Kelkar Committee in its report made public last month recommended to the government to prune its subsidies, check even plan expenditure, raise at least Rs 30,000 crore from disinvestment and shore up tax-GDP ratio so that the Centres fiscal deficit could be reined in at 5.2% of GDP for the current financial year.

The committee had warned that fiscal deficit would reach 6.1% of GDP against the Budget estimates of 5.1%. It said the Budget had overestimated tax receipts by Rs 60,000 crore and underestimated subsidies by Rs 70,000 crore.

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

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