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 :: VAT RATES :: TDS :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Direct Tax »
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg
 CBDT issues draft rules for valuation of unquoted shares
 Central Board of Direct Taxes releases rules to compute fair market valuation of unlisted shares

Direct tax mop-up may not meet target
January, 27th 2012

With industrial growth picking up, the finance ministry is hopeful of meeting its budgeted target for indirect tax collections, but its direct tax kitty may fall short of the Budget estimate by Rs 20,000 crore.

A finance ministry official said there could be a shortfall of Rs 15,000-20,000 crore on the direct tax front. Net direct tax collections in the first nine months (April-December 2011) stood at Rs 3,23,955 crore, 61 per cent of the Budget estimate of Rs 5,32,651 crore for 2011-12. Indirect tax collections went up 42.8 per cent to Rs 2,37,192 crore during the nine-month period, which is 75.7 per cent of the estimate of Rs 3,13,471 crore for 2011-12.

To improve the direct tax collections, the revenue department is cracking down on tax evaders. It has launched a special drive to verify all high-value transactions from persons who are not assessed to income tax or who have not furnished their Permanent Account Number, while entering into such transaction.
The government is expecting Rs 7,000 crore of dividend from public sector undertakings, taking the total collection in the current financial year to Rs 30,000 crore. Another Rs 1,500 crore is likely to come in the form of dividend distribution tax, a finance ministry official said.

This comes after the ministry held a series of consultations with heads of PSUs and state-run banks to persuade them raise the dividend payout to the government.

Dividend payouts could be a substantial source of non-tax revenue for the government, especially at a time when it is trying to restrict its fiscal deficit to 4.6 per cent of the gross domestic product (GDP).

According to guidelines, all profit-making PSUs are expected to declare a minimum dividend of 20 per cent of their net profit or equity, whichever is higher. The minimum dividend payout for companies in oil, petroleum, chemical and other infrastructure sectors is 30 per cent.

In 2010-11, the government collected Rs 25,978 crore as dividend from public sector enterprises. The Budget Estimate for revenue from dividends is Rs 42,623 crore this year, lower than the revised estimate of Rs 48,727 crore for 2010-11. Of Rs 42,623 crore, Rs 23,494 is budgeted from PSUs and Rs 19,129 crore from Reserve Bank of India, nationalised banks and financial institutions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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