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: form 3cd :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: empanelment :: cpt :: TDS :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
Direct Tax »
 CBDT signifies achievements towards eliminating domestic black money
 Seafarers get tax exemption from Ministry of Finance
 Financial institutions need to get accounts self-certified for FATCA by April 30
 Direct tax incentives to promote start-ups
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
 Central Board of Direct Taxes clarifies on cash curb, Aadhaar
 CBDT to issue PAN, TAN within a day to improve Ease of Doing Business
 Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT
 CBDT accomplishes direct taxes collection target for FY 2016-17
  No relief to those who defaulted on 1st IDS installment: CBDT
 New Income Tax forms: What information is being asked for? All you want to know about the new rules

CBDT to monitor advance tax payments
February, 05th 2010

Big corporations will now find it difficult to defer their advance tax payments. In a bid to meet its revenue collection targets, the Central Board of Direct Taxes (CBDT) has decided to monitor advance tax payments by top companies and persuade them not to defer such payment as self-assessment tax for the next financial year.

CBDT convened a meeting of chief commissioners of income-tax today to discuss strategies for achieving the revenue collection target budgeted at Rs 3.7 lakh crore for the current financial year (2009-10) and internally reset at Rs 4 lakh crore.

The strategies discussed during the meeting also included monitoring tax payments of loss-making companies, liable to minimum alternate tax (MAT) at an enhanced rate of 15 per cent, and persuading them to make such payment as advance tax during the current financial year. They also decided to monitor tax deducted at source (TDS) deposits by private deductors as well as state governments and local bodies.

The government said it would also focus on the collection of tax arrears, as well as tax demand raised in scrutiny assessments during 2009-10.

The meeting was addressed by CBDT Chairman S S N Moorthy, and was also attended by newly-appointed Revenue Secretary Sunil Mitra, the finance ministry said in a statement.

Direct tax collections in the first nine months (April-December) of 2009-10 rose 8.51 per cent to Rs 2,50,232 crore, compared with Rs 2,30,598 crore in the same period last financial year. The growth was driven by corporate tax collections, whereas the receipts of personal income-tax dipped.

The revenue department will have to collect over Rs 1.2 lakh crore as direct taxes in the next three months to meet its target of Rs 3.7 lakh crore.

Last year, the government had missed its target of Rs 3.45 lakh crore due to the economic slowdown, but this year it is betting on direct tax collections to make up for any shortfall in indirect tax receipts, which are also likely to miss the target.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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