Latest Expert Exchange Queries

Make 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) | 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: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: due date for vat payment :: VAT Audit :: TDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: list of goods taxed at 4%
 
 
Direct Tax »
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately
 Last Date To File Income Tax Return. Here Are The Details
 New tax regime will deliver a mixed bag with some items turning costly
 New members at CBEC, CBDT

Direct tax kitty growth falls below 30%
November, 07th 2008

The slowdown in net direct tax collection has begun to hurt with figures released for April-October showing the rate of growth dipping below 30%. Net direct tax collections during the first seven months of the fiscal, up to October 2008, stood at Rs 166,905 crore, registering a growth of 29.52% as against 43% recorded during same period last year.

Fears are being expressed of a shortfall in the projected tax collection of Rs 4 lakh crore this fiscal. The budget estimate of Rs 3.65 lakh was revised upwards following booming economic trends in the beginning of this year.

However, the global meltdown also had its impact on the direct tax collection with the real estate, infrastructure, cement, automobile, power, textile and downstream oil companies facing the maximum heat. The advance tax collection from these sectors had the greatest fall. Positive growth was shown in mining, mineral, metal, engineering, Indian banking, telecom, IT, pharma and consumer goods sectors.

According to finance ministry figures released on Thursday, corporate taxes grew by 33.49% to Rs 105,174 crore from Rs 78,785 crore last year, while personal tax, including FBT, STT and BCTT, grew at 23.14% to Rs 61,433 crore.

The erosion in share values had a direct impact on revenue with the collection registering a negative growth for the first time. Continued hammering of stocks in the bourses hit the collection of Security Transaction Tax (STT) which was lowest in the last three years ever since it was introduced in 2005.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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