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 :: articles on VAT and GST in India :: TDS :: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES
 
 
Direct Tax »
 GST: Renaming Central Board of Excise and Customs to CBIC may take a while
 CBDT notifies new scrutiny notices with e-facility for taxpayers
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules

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