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: VAT Audit :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS
 
 
« Direct Tax »
 Can we measure demonetisation’s impact on income tax collections?
 CBDT signs 2 more advance pricing pacts
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg

Direct tax mop-up: Metros falter, small cities robust
December, 06th 2011

Kitty from the two metros almost static; collections from smaller ones way above last years.

Direct tax realisation across the country shows the major centres of Mumbai and Delhi witnessing flat or negative growth, while smaller ones have shown encouraging trends.

Number one in growth over last years net direct tax collection during April 1-December 1 is Bhubaneswar, with a 52.6 per cent increase at Rs 4,187 crore (Rs 2,744 crore in last years corresponding period). Of the collection this year, Rs 2,959 crore has come from corporate tax and Rs 1,226 crore from personal income tax.



A senior department official said the better growth in direct tax realisation in smaller regions clearly indicated an increase in business activities in these. And, that this had come despite overall sluggish performance. Jaipur with 43.2 per cent at Rs 3,431 crore (Rs 2,395 earlier) during the period is at the second spot and Bhopal with a 35.5 per cent increase at Rs 5,809 crore (Rs 4,288 crore) is third. Chandigarh, Ahmedabad, Lucknow and Kochi are fourth, fifth, sixth and seventh, with growth of 34 per cent, 29 per cent, 27.3 per cent and 24 per cent, respectively.

The net collection in Chandigarh during April 1-December 1 was Rs 11,594 crore (Rs 8,659 crore last year, same period). It was ~ 10,942 crore (Rs 8,485 crore) in Ahmedabad; Rs 2,821 crore (2,216 crore) in Lucknow and Rs 3,120 (Rs 2,517 crore) in Kochi. Patna, with 20 per cent growth at Rs 2,766 crore (Rs 2,306 crore), is eighth.

In comparison, the two biggest contributors to the tax kitty, Mumbai and Delhi, have recorded a 0.1 per cent growth and a 1.5 per cent fall, respectively, during April 1-December 1. Net direct tax mop-up during this period in Mumbai was Rs 72,516 crore (Rs 72,445 crore last year); in Delhi, Rs 33,246 crore (Rs 32,750 crore).

Bangalore and Chennai centres have seen an increase in net direct tax realisation by 14 per cent and 15 per cent, respectively. The collection in Bangalore was Rs 22,755 crore (Rs 19,950 crore) and Rs 17,382 crore (Rs 15,116 crore) in Chennai. Total net direct tax realisation growth during April 1-December 1 has been 8.8 per cent, as against a 7.1 per cent increase witnessed till October.

While gross direct tax mop-up till December 1 in 2011-12 was Rs 3,03,650 crore, net collections were Rs 2,34,729 crore, after refunds of Rs 68,918 crore. Net direct tax realisation during April-December 1 in 2010-11 was Rs 2,15,659 crore. Of the total net realisation of Rs 2,34,729 crore, about Rs 1,47,225 crore was from corporate tax and Rs 83,535 crore from income tax.

The governments budget target for direct tax collection is Rs 5.33 lakh crore, with a projected growth of 19 per cent, higher than the 18 per cent in 2010-11.

The Central Board of Direct Taxes is now keenly awaiting the third installment of advance tax payment due on December 15, for an improvement on the growth figure of 8.8 per cent witnessed till December 1.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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