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: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: empanelment :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: list of goods taxed at 4% :: form 3cd :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: VAT RATES
News Headlines »
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest

Finmin hopes to net Rs 30K cr extra as taxes
December, 07th 2006
Tax collections appear to be on a roll this fiscal. Going by the 40 per cent higher tax collections up to November, the finance ministry is hoping to net a whopping Rs 30,000 crore extra by way of direct and indirect taxes this financial year. 
Of this, Rs 20,000 crore will come from direct taxes while the remaining is expected to come from higher customs and service tax collections. 
With corporate tax collections up to November touching Rs 60,000 crore, officials said the annual collections for 2006-07 were expected to touch Rs 1,50,000 crore against the Budget estimate of Rs 1,33,010 crore. 
Similarly, income-tax collection during April-November crossed Rs 40,000 crore and is expected to touch Rs 80,000 crore this fiscal against the Budget estimate of Rs 77,409 crore. 
Overall direct tax collections are likely to touch Rs 2,30,000 crore in 2006-07 compared with an expected Rs 2,10,000 crore. 
On the indirect tax collection side, the customs collections up to November have touched Rs 56,900 crore. This is expected to increase to Rs 87,000 crore by the end of March against the budget estimate of Rs 77,000 crore. 
While excise collections are expected to meet the Budget estimate of Rs 1,19,000 crore, the service tax collection for the fiscal is expected to touch Rs 38,000 crore against the Budget estimate of Rs 34,500 crore. 
Overall, the indirect tax collection was expected to be higher by Rs 10,000 to Rs 13,000 crore, officials said. 
Of the Rs 1,00,135 crore collected by way of direct taxes up to November, officials said the south and west zones recorded a higher growth than targeted. However, the north and east zones recorded revenue growth lower than the target growth for the fiscal. 
The west zone direct tax revenue collections increased by 35 per cent to Rs 12,364 crore against a target growth rate of 29 per cent while the south zone collections increased by 36 per cent to Rs 22,210 crore. The targeted growth rate is 30 per cent. 
The east zone collections touched Rs 7,506 crore up to November, marking an increase of 28 per cent compared with 30 per cent required in 2006-07. The north zone tax collections touched Rs 5,343 crore, which is an increase of 28 per cent compared with 29 per cent required this fiscal.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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