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: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: form 3cd :: cpt :: VAT RATES :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS
 
 
News Headlines »
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash

Direct tax collection buoyant, sees 39.5% growth
February, 20th 2007

Corporate tax contributes Rs 1,00,655 crore to the government coffer so far this fiscal
 
A week before the Budget for 2007-08, direct tax collection for the current fiscal continues to be buoyant at Rs 1,63,423 crore. This is a 39.5% rise, against Rs 1,17,148 crore collected till the same period last fiscal. It is also almost equal to the Centre's direct tax collection of Rs 1,65,208 crore for 2005-06.

Corporate tax continues to be the largest gainer, contributing Rs 1,00,655 crore to the government's kitty so far. This is a 44.7% increase, compared to Rs 69,572 crore collected till February 19, 2006.

Strong corporate earnings, so far in the current fiscal, was considered to be the main reason for this massive increase in corporate tax collection, an official from the central board of direct taxes (CBDT) said. Another reason for the record growth is the large amount of advanced tax that was paid by companies this fiscal. Companies had paid a record Rs 69,65 crore as advanced tax this fiscal, a CBDT official said.

Personal income tax collection, including fringe benefit tax, has also continued its record growth to register a 29.2% growth at Rs 57,844 crore, compared with Rs 44,776 crore collected during the same period last fiscal.

Securities transaction tax collection stand at Rs 4,266 crore - a jump of 85.9% against last fiscal's Rs 2,295 crore. Similarly, banking cash transaction tax (BCTT) has also witnessed a 72.9% increase at Rs 409 crore. Last fiscal, BCTT collection stood at Rs 237 crore only.

Buoyed by such record growth in taxes, the revenue department is now certain of overshooting its budget estimate of Rs 2,10,684 crore for direct taxes for the fiscal by at least Rs 30,000 crore.

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

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