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 »
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket
 How to file Income Tax Returns online in five simple steps
 Income tax returns (ITR) deadline over; how belated returns filing will impact you
 Five tax changes that come into effect from today

Net direct tax collections up 14% till Dec 20 this fiscal
December, 23rd 2013

The economy may have slackened this fiscal, but the Centre’s net direct tax collections are definitely looking up.

Till December 20 this fiscal, the overall net direct tax collections on a year-on-year basis grew 13.7 per cent to Rs 4.13 lakh crore, raising hopes that the Government will hit the Budget target for direct taxes.

During the same period in the previous year, the net direct tax collections stood at Rs 3.63 lakh crore, the official data released on Saturday show.

personal i-t

The buoyancy in direct tax collections this year has been largely the result of better showing on the advance tax front.

For 2013-14, the Centre had budgeted 18 per cent growth in direct tax collections with a tax mop-up target of Rs 6.68 lakh crore.

Corporate tax collections up to December 20 grew 10.2 per cent to Rs 2.6 lakh crore (Rs 2.3 lakh crore collected to that date last year).

On the other hand, personal income tax collections grew 20.5 per cent to Rs 1.4 lakh crore (Rs 1.2 lakh crore).

While the securities transaction tax, a levy on the trades put through stock exchanges, for the period under review stood at Rs 3,427 crore, wealth tax stood at Rs 752 crore, the statement shows.

ADVANCE TAX

Out of the overall net direct collections, contributions by way of advance tax up to the December quarter stood at Rs 2 lakh crore, reflecting an overall growth of 8.8 per cent.

As much as 49 per cent of the Centre’s net direct tax collections is accounted for by advance tax.

Advance tax collections from corporates grew 8.4 per cent to Rs 1.7 lakh crore. This is better than the 7 per cent growth rate in the same period last year, an official release said.

Advance tax collections under personal income tax stood at Rs 25,686 crore, reflecting a rise of 11.9 per cent up to this quarter.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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