Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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
Popular Search: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: empanelment :: VAT RATES :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: Central Excise rule to resale the machines to a new company
Direct Tax »
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today
 Here are a few last-minute tax saving ideas Not planned taxes yet?
 Confessions of a fake CA exposes lacuna in e-filing of tax return
 Greetings from the income tax department
 Scrambling to scrounge proof of tax-saving investment
 5 tips to save your money Do not make this big income tax returns filing mistake

Direct tax collections take a hit on eco slowdown
October, 11th 2013

On the back of slowdown in growth, direct tax collections have fallen short of budget projections; a trend that is expected to continue in the second half of the fiscal, reports CNBC-TV18’s Aakansha Sethi.

The government had, in the Budget, projected over a 19 percent increase in direct taxes. Actually, there has been only an increase of about 10.8 percent in the first half of this fiscal. It has led to a shortfall of about Rs 20,000 crore in direct tax collections. Also read: Slowing economy:

Here are tips to spend money smartly The government is struggling to meet a 4.8 percent fiscal deficit target. The shortfall will only mean that more expenditure cuts. The disinvestment target is also far from being met and subsidies are likely to overshoot significantly. The tax department is going to rely more on arrears from previous years. The total target for arrears for this year is Rs 61,000 crore against total arrears of about Rs 1,90,000 crore. Around Rs 21,000 crore has already been received.

The finance ministry hopes to focus on this over the second half. It is going to complete its assessments by December this year, unlike March every year so that they can crack down on evasions. It will also focus on non-filers of income tax returns.

This is the income tax department’s (I-T) three-pronged strategy to ensure it covers up shortfall. If growth continues this way, in the second half, the IT department expects more shortfall in collections.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-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