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: cpt :: form 3cd :: VAT RATES :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: empanelment :: articles on VAT and GST in India :: due date for vat payment
 
 
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 bets on direct tax surge
February, 03rd 2010

The government is banking on a rising direct tax receipts to fund a growing expenditure budget as macroeconomic managers wonder how to balance development spending with a yawning fiscal deficit.

A senior official said the government is likely peg the real gross domestic product (GDP) growth rate for 2010-11 at 8 per cent with direct tax collections for 2010-11 set at over Rs 4 lakh crore, up from Rs 3.7 lakh crore in the previous year.

The government is also hoping higher direct tax revenues, aided by surging incomes, would raise the tax-to-GDP ratio to about 12 per cent in 2010-11.

The tax-to-GDP ratio rose from 9.2 per cent in 2003-04 to 12.6 per cent in 2007-08, but the economic downturn pulled down the ratio as to less than 11 per cent in 2008-09 as tax revenues fell sharply on the back of lower corporate earnings.

The short-term objective is to bring back the ratio to about 13 per cent by 2012-13, said the official.

In view of the nascent signs of recovery in the Indian economy as well as the world economy during the last few months, the direct tax revenue is estimated to show higher buoyancy, the official said.

Aided by consumer spending, the economy grew 7.9 per cent year-on-year during the

July-September period its strongest in six quarters.

GDP growth had slowed to 6.7 per cent in 2008-09 after clocking an average of 9 per cent for four straight years.

 
 
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 Vision

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