Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 CBDT drops small tax demands but not TCS, TDS claims
 ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
 Income Tax Notice: What to do if you receive a Section 143 (1) notice from taxman?
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
 ITR filing: Tax rules on income from house property that your should know
 CBDT likely to issue rules on angel tax next week
 Pension Taxation: Everything you need to know for ITR filing
 Income tax guide on pension: How to file pension income in ITR?

Gross direct tax collection up 8 pc in April-December
February, 04th 2013

Led by healthy growth in personal income tax collection , the gross direct tax collection in the nine months till December of the current fiscal increased by 8.01 per cent to Rs 4.28 lakh crore.

"Gross direct tax collections during April-December of the financial year 2012-13 was up by 8.01 per cent and stood at Rs 4,28,278 crore as against Rs 3,96,530 crore in the same period last year," the Finance Ministry said in a statement.

The personal income tax collection grew at a healthy rate of 14.57 per cent as the gross collection from the segment increased to Rs 1,44,376 crore. During April-December 2011-12, the mop was Rs 1,26,012 crore.

Gross collection of corporate taxes showed an increase of 4.94 per cent at Rs 2,83,170 crore as against Rs 2,69,850 crore in the same period last year.

The growth in net collection of wealth tax was 1.55 per cent at Rs 656 crore as against Rs 646 crore during the same period last year.

However, the net Securities Transaction Tax (STT) collection declined by 12.46 per cent to Rs 3,294 crore during April-December of the fiscal as against Rs 3,763 crore year-on-year.

Despite slowdown in economic activities, the government had said it is confident of meeting the Rs 5.7 lakh-crore direct tax target for the fiscal. Direct taxes include income tax, corporate tax and wealth tax.

The statement said the net direct tax collections (gross minus refunds) was up by 13.7 per cent and stood at Rs 3,68,322 crore, as compared to Rs 3,23,956 crore in the same period in the last fiscal.

Faced with widening fiscal deficit, the government had earlier issued stern warning to tax evaders and has asked them to disclose their correct income and pay advance tax by due date or be prepared to face action.

The government has also warned evaders of excise, customs and service tax to pay their dues or face penal action which could include arrest, prosecution and property attachment.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting