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: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd :: VAT RATES :: TDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: empanelment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4%
 
 
« Direct Tax »
 Best 5 Income Tax-Saving SIP plans in India: How To save taxes by Investing in SIPs under 80C
 Tax refund checks are finally in the mail
 Income Tax dues in advance can be paid at RBI or at authorised bank branches by March 2017
 Why you must be looking beyond tax planning
 I-T dept. to lauch app for paying tax
 CBDT to taxman: Step up TDS survey operations to boost collections
 Tax Officers Asked To File Self-Appraisal Report On E-Assessment
 CBDT to taxman: Step up TDS survey ops to boost collections
 Govt to issue exemption list on new tax for unlisted firms
 CBDT issues third round of certificates to tax payers
 Central Board of Direct Taxes (CBDT) signs four more unilateral Advance Pricing Agreements (APAs)

Direct tax kitty dips by 36% in November
December, 06th 2008
Net direct tax collections declined by 36 per cent in November this year mainly on account of the economic slowdown and also due to advancement of the last date for filing tax returns for companies and firms. Direct tax receipts in the month under consideration stood at Rs 10,346 crore as against Rs 16,189 crore in the corresponding month last year. It grew at 62 per cent in November 2007. Net direct tax collections is computed after giving refunds but before devolution of states share. Already, excise and Customs duty collections reported a decline of 5 per cent in October 2008, an indicator of factory output slowing down. Indirect tax collection numbers for November will be released later. Another factor that has contributed to the decline in the November collection is advancement of the due date of filing of returns by companies and firms to September 30 from October 31. As a result, self assessment tax, which used to spill over to November, has been realised in October this year, the official added. Corporate taxes, which form a major portion of the direct tax kitty, dipped by nearly 41 per cent to Rs 4,561 crore in November as compared to Rs 7,741 crore in the same period in 2007. Similarly, Personal Income Tax (including fringe benefit tax, securities transaction tax and banking cash transaction tax) collections declined by 31 per cent to Rs 5,782 crore as compared to Rs 8,414 crore in the year ago month. Securities transaction tax, which is levied on the value of securities bought and sold, has seen a sharp decline due to reduced capitalisation in the Indian stock market. The budget estimate of Rs 3,65,000 crore for 2008-09 may be achieved. However, it seems difficult to achieve the departments internal target of Rs 3,95,000 crore this year, said a senior Income Tax official.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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