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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Direct Tax »
 ITR-4 launched on e-filing portal; total 3 ITRs available now
 CBDT directs income tax department to hold grievance redressal fortnight for taxpayers in June
 Income tax return form-2 in Java format released for e-filing for FY2017-18
 3 ITRs available now ITR-4 launched on e-filing portal
 Businesses, small taxpayers to gain from new direct tax code
 New direct tax code to benefit corporates, income tax payers
 CBDT releases ITR Form-4 for presumptive income from business and profession
 Know how you can save tax through various deductions under Section 80 Income Tax
 CBDT issues notification, seeks suggestions to bring more transparency in cross-national transactions
 CBDT seeks suggestions to bring transparency in cross-national transactions
 What to expect from new direct tax law

Direct tax mop-up at Rs 4.46k crore
December, 28th 2011

The direct tax collection has grown by more than four times in last seven years when with the last year's tally standing at Rs 4,46,000 crore as against over Rs 1,00,00 crore in the year 2003-04. The contribution of direct tax to the total revenue has grown to 64% over the years, which is an indication of a developed economy, said member of the central board of direct taxes (CBDT) Manjari Kacker. She was addressing the inaugural function of the 65{+t}{+h} batch of IRS probationers joining the National Academy of Direct Taxes (NADT).

Kacker said that the importance of direct taxes has grown over the years. In the 1970s the income tax rate was as high as 97% along with other taxes wealth tax and gift tax. A high rate led to large-scale evasion, but the compliance has only increased as the rates were eased gradually.

The income tax department's importance is expected to grow as the economy grows. "India is among the fastest growing economies of the world and as the country develops, the taxman's will have a complex role to play," said Kacker.

The 65{+t}{+h} batch of IRS officials includes 126 probationers joining the income tax department as Indian Revenue Service (IRS), officers after passing the civil services examinations.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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