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: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES :: TDS :: form 3cd :: empanelment :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Directions under section 119 of the Income-tax Act, 1961
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful

Direct tax collections swell 43% to Rs 1.4 lakh cr
November, 23rd 2007
Despite a deceleration in the manufacturing sector, the governments cash register continues to be on a roll. Its direct tax collections grew 42.9% during April-November 15 to Rs 1,40,373 crore. Corporate tax collections registered a growth of 45.74% to Rs 83,934 crore during April-November 15, 2007, up from Rs 57,593 crore in the corresponding period last year.

Personal income tax including fringe benefit tax (FBT), securities transaction tax (STT) and banking cash transaction tax (BCTT) grew 39.96% to Rs 56,212 crore in April-November 15, 2007, up from Rs 40,453 crore in the corresponding period previous fiscal.

With net collection of Rs 1,40,373 crore, over 52% of the budgeted direct tax target of Rs 2,67,490 crore has been achieved. The growth target required to achieve the Budget estimate of Rs 2,67,490 crore is 18%. However, with a robust growth rate of 40% in seven-and-a-half months of the fiscal, the direct tax collections may well exceed Rs 3,00,000 crore.

The booming stock markets have augured well for the government as well, with STT collections growing 69.37% to Rs 4,924 crore against Rs 2,908 crore in the corresponding period last year.

FBT collections rose 27.11% to Rs 3,078 crore in the period under review from Rs 2,422 crore collected in April-November 15, 2006. Characterising a decrease in incidence of large cash withdrawals, BCTT collections grew just 16.99% to Rs 320 crore in the period under review.

Tax deduction or collection at source (TDS/TCS) increased by over 50%, pointing to an all-round buoyancy in taxes. Self-assessment tax paid voluntarily before submission of tax return on the other hand, increased 89.3%, indicating continued improvement in tax administration and tax compliance levels.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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