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: empanelment :: due date for vat payment :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: form 3cd
 
 
Direct Tax »
 FinMin may review tax regime on long-term capital gains
 Income tax return: TDS refund on capital gains invested needs to be instant
 CBDT holds circular on indirect tax provisions
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT

Pranab asks Mumbai taxmen to meet collection target
January, 12th 2012

The finance minister "exhorted the tax officers to put their best foot forward to achieve the Budget collection target fixed for the Mumbai region," Income Tax department said in a statement on Wednesday.

The Mumbai region contributes over a third of the overall direct tax collection. It has been targeting a 33 per cent increase in income tax collections at Rs 2.04 lakh crore for the financial year, but has achieved a meager 4 per cent jump in advance tax collections. In the direct tax segment, advance tax contributes the most.

After taking stock of revenue collection of Mumbai region over the weekend, Mukherjee on Wednesday held a similar meeting of taxmen of North Zone in New Delhi and also asked them to step up the tax collection exercise.

The meeting was also attended by chiefs of Central Board of Direct Taxes and Central Board of Excise and Customs.

Earlier, the finance minister had had meetings with tax officials of East and West zones.

At the Mumbai meeting, Finance Secretary R S Gujral had said that present times are "very critical" as a "steep decline" in GDP growth is resulting in a dip in the levy collections.

He said companies in the banking, finance and insurance sector, which account for half of the collections in the Mumbai region, are facing difficult time and the region will have to depend on sectors like software, pharma, FMCG and infrastructure, which are showing healthy increase, to achieve the target.

As an alternative, Mukherjee asked the I-T authorities to explore other possibilities like recovery in cases of tax defaulters and suggested adoption of some realistic steps to achieve targets in a time-bound manner.

The likely slowdown in economic growth to about 7 per cent from the 9 per cent projected in Budget could severely impact the revenue collection target. The government expects to collect Rs 7.89 lakh crore in revenue this fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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