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: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TDS :: VAT Audit :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT RATES
 
 
Direct Tax »
 CBDT denies data inconsistency over new taxpayers after note ban
 No inconsistency in number of tax payers: CBDT
 India will benefit from growing tax revenue in FY2018
 I-T plans to pursue property-holders who have never filed income tax returns
 Direct Tax Collections up to July, 2017 show Growth
 How True is CBDT’s Claim of Record New Tax Filers?
 Five Questions for Republican Tax Reformers
 CBDT signs nine UAPAs with Indian taxpayers
 Made a mistake in your tax return? Here's how to correct it
 6 ways to verify your income tax return
 Businesses can file returns, pay taxes for July on GSTN portal

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