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: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4% :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: articles on VAT and GST in India
Budget Extravaganza »
 Budget advancement helps Centre, states start spending early
 Five things that you can expect from the Mumbai civic budget today
 GST all set for July 1 rollout but casts shadow on state budgets
 Income-Tax collection revised in Rajasthan budget
 No new taxes likely in Maharashtra Budget
 H.P. budget devoid of any financial prudence
 GST, demonetisation todecide budget priorities
 Railways to come up with mini-budget tomorrow
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes
 Six things Finance Minister did not tell you in Budget 2017

FM raises tax collection targets for current financial year
January, 24th 2011

The Finance Minister, Mr Pranab Mukherjee, on Sunday raised the direct and indirect tax collections targets for current financial year, indicating that the Government was keen on consolidating its finances.

Addressing a review meeting of CBDT and CBEC in Chennai, the Minister said that direct tax collection target is been raised by 4 per cent over the budget estimate.

This would imply that the direct taxes collection target for 2010-11 will now stand at Rs 4.47 lakh crore as against a budget estimate of Rs 4.3 lakh crore.

Mr Mukherjee has also raised the indirect tax collection target for 2010-11 by 7 per cent. This would imply that the indirect tax collection target for 2010-11 would be Rs 3.37 lakh crore as against the earlier BE level of Rs 3.15 lakh crore.

Both direct and indirect tax collection have been buoyant this year on the back of strong economic growth which is expected to be around 8.75 per cent this fiscal.

The revised targets will not be a big ask on the Revenue Department, given the growth in tax receipt this fiscal, economy watchers said.

The move to revise the revenue targets is also seen as an effort to maintain the tax-GDP ratio of the country.

The strengthening of international crude oil prices as well as other commodity prices including metals have bolstered the Centres customs duty collection this year. The Finance Minister, however, asked Revenue Department officials to focus attention on increasing service tax collections. He pointed out that while the service's sector has grown enormously, the rise in service tax collection was not commensurate.

The Centre had budgeted a sum of Rs 68,000 crore as service tax collection target for 2010-11. In April-December 2010, the Centre had collected service tax to the tune of Rs 44,081 crore, reflecting a 19.2 per cent increase over Rs 36,984 crore collected in the same period in the previous year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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