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 :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: form 3cd :: ACCOUNTING STANDARD :: cpt :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India
 
 
News Headlines »
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you
 Income Tax department activates e-filing facility for all ITRs
 All the income-tax return forms for the current assessment year are available online
 New GST – CONCEPT & STATUS – As on 01st May, 2017

Advance tax kitty swells 38.5% to Rs 59,393 cr
December, 21st 2006

Its definitely a merry Christmas for Finance Minister P Chidambaram. The governments advance tax collections grew by 38.5% in April-December 18, 2006.

Total direct tax collections grew 42.5% against the Budget growth target of 27.5%. With such buoyancy, the government may well be on its way to overshoot the budget target.

Led by the oil companies who came out of red due to the dip in global crude prices and the government-issued bonds, India Inc has been on a roll with manufacturing and services contributing to the tax kitty. The corporate advance tax collections were Rs 59,393 crore in April-December 18, 2006, up 38.5% over last years collection of Rs 42,881 crore.

In fact, the corporate advance tax collections in December 2006 (up to December 18) grew 46.4%, indicating a continued robust performance by India Inc. Advance tax is paid in 4 instalments, 15% by June 15, 30% by September 15 and 30% by December 15 and 25% by March.

So on the corporate front, the government gets 75% of the tax till December. These numbers set the course for changes in tax rates and other measures in the Budget. The net direct tax collections till December 18 were Rs 1,33,461 crore, up 42.5% over last year. The budgetary estimate for direct taxes is Rs 2,10,419 crore for 2005-06.

Corporate taxes rose 51.2% at Rs 83,614 crore in the period under review. Personal income tax, including fringe benefit tax, rose 26.6%.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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