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: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: VAT Audit :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: empanelment
 
 
News Headlines »
 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
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

Tax collections record unprecedented growth: Chidambaram
December, 08th 2007
Finance Minister P. Chidambaram today said that several new legislative and administrative measures taken by the government have resulted in fiscal stability, improved tax revenues and tightened expenditure.

Addressing the meeting of the Parliamentary Consultative Committee attached to the Finance Ministry, Chidambaram said that the tax buoyancy is the result of good performance of Indian economy and the new initiatives taken by the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC).

On the Direct Taxes, Chidambaram said that the TDS administration, refund bankers, tax return prepares scheme, large tax payers unit, e-filing of taxes and business process reengineering are some of the important initiatives which have brought an unprecedented growth of tax collections.

He said that attitude of people to pay taxes has now been changing.

The personal income tax grew by 42.5 percent and corporation tax by 46.6 percent during April-November 2007 over the corresponding period of last fiscal.

The overall direct tax collection growth rate is 44.9 percent during this period, he added.

Chidambaram said that the number of taxpayers in the country has been increasing. While the number of assesses increased from 301.78 lakhs in 2003-04 to 319.26 lakhs in 2006-07, the number of assesses filing return of income increased from 234.25 lakhs to 275.44 lakhs during this period.

The number of PANs as on October 31, 2007 is 5,74,74,806 and around 8-9 lakhs PANs are being allotted every year.

PANs de-duplication has been completed in respect of more than 95 percent cases, he said.

Chidambaram said that pilot project of the State Bank of India acting as a Refund Banker has been extended to select charges of four more cities -- Mumbai, Kolkata, Chennai and Bangalore -- apart from the existing cities at Delhi and Patna.

On indirect taxes, Chidambaram said that customs duty rates are being decreased continuously, while the excise duty rates have decreased.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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