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: Central Excise rule to resale the machines to a new company :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: ACCOUNTING STANDARD :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4%
 
 
Direct Tax »
 CBDT clears the air on rental incomes from industrial parks, SEZs
 CBDT signifies achievements towards eliminating domestic black money
 Seafarers get tax exemption from Ministry of Finance
 Financial institutions need to get accounts self-certified for FATCA by April 30
 Direct tax incentives to promote start-ups
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
 Central Board of Direct Taxes clarifies on cash curb, Aadhaar
 CBDT to issue PAN, TAN within a day to improve Ease of Doing Business
 Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT
 CBDT accomplishes direct taxes collection target for FY 2016-17
  No relief to those who defaulted on 1st IDS installment: CBDT

Government will meet direct tax target, says finance minister
December, 13th 2012

Finance minister P Chidambaram on Wednesday said the government was confident of meeting the direct tax collection target of Rs 5.7 lakh crore for the current financial year, while asking the income tax department to prioritize refunds to small taxpayers . "I am confident we will meet the direct tax collection target ... (all those people) whose data we have about their purchases, mutual funds, if everybody pays advance tax, then actually we will collect more than the target," said the minister , who recently took stock of collection trends.

Earlier this week, revenue secretary Sumit Bose had exhorted taxpayers to pay the third installment of advance tax for which the due date is December 15. Chidambaram said he had sent his advance tax cheque, while urging others to pay their dues on time. "What is real is net collection... our net collection numbers are satisfactory ." Net direct collections during April-November increased by 15% year-on-year , while growth in gross direct tax collection stood at 7%, Chidambaram said.

He also made it clear that there were no instructions to hold back on refunds as the entire process had moved to an automated system. "Smaller taxpayer is getting priority in refund. Somebody who has to get Rs 5 lakh can wait. Somebody who has to get Rs 5,000 should get first," the minister said in response to queries. He said the government had already cleared refunds of Rs 57,000 crore for this fiscal. The Central Board of Direct Taxes (CBDT) has issued a directive to prioritize low-value refunds. Last year around this time, he said, the tax refund was Rs 70,000 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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