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: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: empanelment :: VAT RATES :: TDS :: ACCOUNTING STANDARD :: due date for vat payment :: cpt
 
 
Direct Tax »
 GST: Renaming Central Board of Excise and Customs to CBIC may take a while
 CBDT notifies new scrutiny notices with e-facility for taxpayers
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules

Centre asks for timely payment of Taxes
February, 06th 2010

The Central Government has asked the private sector companies to pay advance taxes on time so that the government is able to meet its target of Rs 4 lakh crore in revenues in this fiscal.

The Central Board of Direct Taxes (CBDT) in a meeting today with the Income Tax department officials discussed measures for timely collection and also asked them to try to bring in the remaining collections for the year by March.

The collections in the Direct Tax segment grew 8.5 per cent to Rs 2.5 lakh crore in the first nine months of the current financial year over the corresponding period of the previous year. The Personal income tax on the other hand declined 0.41 per cent.

The government had first set a target of Rs 3.7 lakh crore which was later revised to Rs 4 lakh crore for the current financial year.

As the measures to improve collections, the CBDT will persuade loss-making companies liable to a minimum alternate tax rate of 15 per cent to pay such taxes as advance tax during the current fiscal.

It will also scrutinize taxes deducted on source for the deposits of private entities, state governments and local bodies. The department will focus on collecting arrears. The collection from the scrutiny is likely to more than Rs
25,000 crore.

The government has taken many steps to make tax filing easier such as facilities of electronic payment of taxes and a processing centre set up in the city of Bangalore to speed up returns and issue of refunds to taxpayers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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