Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit :: form 3cd :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES
 
 
« Direct Tax »
 Pune region tops in direct tax kitty growth
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months

The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
October, 18th 2016
                           Government of India
                              Ministry of Finance
                           Department of Revenue
                         Central Board of Direct Taxes

                                                  New Delhi, 9th October, 2016.


                               PRESS RELEASE

     Sub: Direct Tax Collections up to September, 2016 up by 8.95%


      The figures for direct tax collections up to September, 2016 show that net
collections are at Rs.3.27 lakh crore which is 8.95% more than the net
collections for the corresponding period last year. Till September, 2016, 38.65%
of the Budget Estimates of direct taxes for FY 2016-17 has been achieved.




      As regards the growth rates for Corporate Income Tax (CIT) and Personal
Income Tax (PIT), in terms of gross revenue collections, the growth rate under
CIT is 9.54% while that under PIT (including STT etc.) is 16.85%. However, after
adjusting for refunds, the net growth in CIT collections is 2.56% while that in PIT
collections is 18.60%. Refunds amounting to Rs.86,491 crore have been issued
during April-September, 2016, which is 26.99% higher than the refunds issued
during the corresponding period last year.




       Till September, 2016, advance tax collections have reached Rs.1.58 lakh
crore showing a growth rate of 12.12%. The growth in Corporate advance tax is
8.14% as against 44.5% in Personal advance tax collections. The high growth
rate in PIT advance tax is also due to the fact that as against 30% of annual
advance tax which was payable till September instalment in earlier years, from
this financial year, 45% of the annual advance tax liability is to be paid by
September.

                                                 (Meenakshi J Goswami)
                                               Commissioner of Income Tax
                                               (Media and Technical Policy)
                                               Official Spokesperson, CBDT

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

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