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: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARDS :: TDS :: VAT Audit :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Indirect Tax »
 How it affects long-term capital gains tax calculations
 Should you opt for 'consultant' status to lower tax outgo?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman
 Data analytics to help income tax dept catch evaders

I-T dept struggling to match last year's tax-collection target
February, 14th 2012

Will the income tax (I-T), Mumbai circle this year be able to match at least last year's collection figure? This is the prime question doing the rounds in the department even as the second round of agitation by I-T officials completed two weeks. The department in Mumbai has a tax

 
collection target of Rs 2.04 lakh crore that has to be met by March-end.
However, the agitation has severely affected searches and surveys has slowed down tax collection because the protesting officials are not taking part in the searches. "If we at least match last financial year's collection of Rs1.53 lakh crore, it would be a saving grace for us," a senior I-T official said requesting anonymity because he is not authorised to speak to the media.

To achieve the present target (Rs 2.04 lakh crore) the department still needs to collect around Rs 85,000 crore. Though officials were already expecting a shortfall because of slow growth in the economy, the agitation has further marred their hopes.

The I-T officials are protesting in support of their demand to get promotions, which have been pending for last two years.

In Mumbai, 80 promotions of income tax officer (ITO) to assistant commissioner of income tax (ACIT)/deputy commissioner of income tax (DCIT) level are pending for the last two years. The number in the country is over 400.

The second round of agitation began on January 31. Earlier, the officials protested from December 5 to January 3. The agitation was suspended after the Central Board of Direct Taxes (CBDT) assured that it would resolve the issue by the third week of January.

However, with the CBDT failing to clear promotions, the officials resumed the agitation.

Besides searches and surveys slowing down, the department is concerned, as it has to refund Rs 2,500 crore to Vodafone after losing the case in the Supreme Court.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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