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: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: empanelment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT Audit
 
 
News Headlines »
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it

Direct tax mop-up on target, crosses Rs 1 lakh cr till Nov
November, 22nd 2006

Gross direct tax mop-up crossed the magical mark of Rs 1 lakh crore for this fiscal on November 17, 06. This means that for the first time after several years, the finance ministry will not have to revise its Budget target, in January.

More often than not, revised estimates in the past had to be scaled down due to lower than estimated collections. Fringe Benefit Tax collection has witnessed a growth of 39% to Rs 2,440.7 crore compared to Rs 1,756 crore in April-November 05.

With a booming stock market, securities transaction tax collections were up by a whopping 91.2% to Rs 2907.5 crore in April-November, (as of 17th), 06, against Rs 1520.8 crore in April-November,05. There has been a 105.7% increase in banking cash transaction tax collections at Rs 301.3 crore in the period under review compared to Rs 146.5 crore in April-November, 05.

Income and corporation tax has recorded a growth of 33.1%, in 06-07, so far. Total direct tax collections clocked Rs 1,21,118.7 crore in the period under review compared to Rs 90,603.4 crore in April-November, 05. The Budget estimate for direct tax is Rs 2,10,419 crore in this fiscal.

The going seems really good for the government on revenue front as direct tax collections have crossed 50%-mark of the budgetary target. In terms of growth rate, the Budget has estimated a 19% rise in total revenues.

Leading the tally were corporate tax collections which grew by 36.5% to Rs 75,494 crore in April-November, 06 against Rs 55,327 crore in April-November 05.

Personal income tax collections registered a growth of 25.9% to Rs 39,786.3 crore in the period under review compared to Rs 31,613.6 crore. Tax refunds stood at Rs 21,864.7 crore for the period under review against Rs 19,264.5 crore in April-November, 06, growing by 13.5%.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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