Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season

Tax mop-up likely to top Budget estimate: Fin Secy
December, 23rd 2009

Buoyed by the healthy growth in advance tax collection, the Government today said the revenue realisation during the current fiscal may exceed the budgetary target notwithstanding low indirect tax collection.

"It is very unlikely that the estimates on the indirect tax will be met, but on the direct taxes front, we are maintaining that it will be more than met," Finance Secretary Ashok Chawla told reporters on the sidelines of the launch of a trading platform for trade receivables, being launched by NSE and Sidbi.

An electronic trade receivables platform eases the physical process of trading in receivable incomes between buyers and sellers through online discounting process.

"So, overall between indirect and direct taxes, the total collection will correspond to the Budget estimate or more," he said.

The advance tax collection rose 20 per cent during the first nine months of the current fiscal compared to the same period last year, with the companies from the automobile, consumer goods and metal sectors leading the pack.

Advance tax payments by industries increased to Rs 1.13 lakh crore from Rs 0.94 lakh crore during the corresponding period last fiscal.

According to the Budget estimate, the Government aims to earn Rs 6.4 lakh crore from direct and indirect taxes during the current fiscal.

The Government expects the direct tax mp-up for the current fiscal to well exceed the budget target of Rs 3.7 lakh crore. At the same time, the indirect tax collection is estimated at Rs 2.7 lakh crore.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting