Latest Expert Exchange Queries

Make 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) | 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: list of goods taxed at 4% :: VAT Audit :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT RATES :: cpt :: form 3cd :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

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