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: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: cpt :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Direct tax mop-up may be 9% more than Budget estimate
February, 26th 2007
Direct tax collections are likely to be higher than the Budget estimate by around Rs 20,000 crore in 2006-07 on account of the overall buoyancy in the economy and robust performance of corporations. 
 
Consequently, the revised estimate of direct tax collections for 2006-07 was likely to be around Rs 2,30,000 crore, compared to the Budget estimate of Rs 2,10,684 crore for the year, official sources said. 
 
The finance ministry is expected to announce a revised estimate for the current fiscal on February 28. 
 
The Budget estimate of direct tax for 2006-07 is Rs 2,10,684 crore, compared to the actual collection of Rs 1,65,208 crore in 2005-06. The actual direct tax collections were lower by 6.7 per cent in 2005-06, compared to the Budget estimate of Rs 1,77,077 crore. 
 
The upward revision in direct tax collections for this fiscal will be a significant development for the government, which is likely to increase investments in sectors like agriculture and infrastructure. 
 
The growth in net direct tax collections so far this fiscal has outpaced the targeted growth of 27.5 per cent over the last year as per the Budget estimate for 2006-07. 
 
Direct tax collections shot up 39.7 per cent to Rs 1,61,777 crore till February 15 this fiscal due to overall buoyancy in corporation and income tax collections. 
 
Corporation tax collection rose 45.2 per cent at Rs 99,488 crore during the period compared to Rs 68,534 crore in the same period last fiscal. 
 
The higher growth in tax collections is a combination of robust profitability of corporations and reduction in assessment period for companies from 36 months to 33 months, say tax consultants. 
 
Income tax collections were up by 32 per cent at Rs 62,040 crore till February 15 this fiscal, as against Rs 46,986 crore collected in the same period in 2005-06. 
 
Income tax collections include fringe benefit tax, securities transaction tax and banking cash transaction tax.
 
 
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