Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT Audit :: cpt :: articles on VAT and GST in India :: empanelment :: VAT RATES :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS
 
 
« Direct Tax »
 High court judges, experts brainstorm on likely GST litigations
 Businesses need not deduct GST on advances received for goods supply: CBEC
 Redress taxpayers' grievances on priority: CBDT to I-T department
 No tax relief on EPF interest if not employed: ITAT
  CBDT signs 7 more unilateral APAs with taxpayers
 Income tax returns (ITR) filing: Get capital gains tax exemption on new property; here is how
 Reach out to non-filers of GST returns: CBEC to fields offices
 CBDT may shelve plan to seek corporate tax estimates in advance
 IT expertise at banks' board level a must, says RBI ED
 Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961
 To avoid double-taxation CBDT says no tax at upstream foreign fund if local fund paid already

Pranab ups revenue target by Rs 20 k cr on strong direct tax kitty
January, 06th 2011

Banking on healthy growth in direct taxes collections, finance minister Pranab Mukherjee raised the target for financial year by Rs 20,000 crore to Rs 4.5 lakh crore after a one and half hour long video conference with the chief commissioners of income tax.

Mr Mukherjee is counting on the tax bouyancy to meet additional expenditure on subsidy beucase of the rising commodity prices, helping him stay within the fiscal deficit target of 5.5 % of GDP.

Finance minister has raised the target as tax collections are buoyant, said a income tax department official.

Indirect taxes target is also likely to be revised in keeping with the over 45% growth in collections in the first April-November 2010 from a year ago.

In a break from the tradition, kicking off budget consultation in earnest, Mr Mukherjee held consultation with 48 chief commissioners and director generals of income tax from the room of chairman, Central Board of Direct Taxes . Mukherjee unveiled the vision 2020 for the department and asked officials focus their energies to raise collections, in the current year and also over a longer term. Direct tax collections have grown at 19% in the first nine months of the current fiscal, the required rate for the budget target of Rs 4.5 lakh crore.

Corporate tax collections grew 21.3% and personal income tax rose by 16.2% in April-December 2010 with the total direct tax collections crossing the psychological mark of Rs 3,00,000 crore.

Gross tax collections in April-November 2010 are up 27.4% from a year ago against budget target of 18%.

The higher tax collections will come handy as the governments subsidy bill is expected to cross the budget estimates following a spike in global commodity prices.

The fertiliser ministry has projected a revised demand of Rs 82,245 crore as against the budgeted Rs 52,837 crore, citing hardening international prices of key inputs and imported fertilisers.

The petroleum ministry could also seek extra funds to compensate oil companies for higher losses incurred in selling fuel at below cost as global crude prices have risen to over $90 a barrel.

The same is the case with food subsidy bill with the food ministry saying the it needs Rs 25,000 crore more than budgeted Rs 55,000 crore.

The finance ministry had budgeted Rs 3,108 crore towards petroleum subsidy, but provided another Rs 14,000 crore in the first supplementary demand.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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