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: ACCOUNTING STANDARDS :: form 3cd :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES :: empanelment
 
 
« News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

Direct tax collections top Rs 3 lakh cr
March, 31st 2008
For the first time, the Centres net direct tax collections have crossed the Rs 3-lakh crore mark.

To grasp the significance of this milestone, one needs to go back only 15 years or so. In 1990-91, the Centres net direct tax collections were about Rs 11,000 crore, which was only about one-fifth of the Centres entire tax kitty.

This year (2007-08) was a fiscal landmark for another reason too the net direct taxes collections account for over 50 per cent of the Centres revenue.

Official sources said that the net direct tax collections had crossed the Rs 3-lakh crore mark on March 29. The revised estimate of about Rs 3,04,760 crore is likely to be achieved by March 31, sources added.

The direct taxes had recorded over 40 per cent growth in fiscal 2007-08. As against the Budget estimate of Rs 2,67,490 crore, the direct collections have crossed Rs 3,00,000 crore, reflecting the sheer buoyancy in such taxes (corporate taxes and personal taxes).

Shift to direct tax

There has clearly been a shift away from indirect taxes to the direct taxes all through the post reforms period. This is seen as progressive on two counts. Firstly, by taxing earnings of individuals and corporates rather than production and trade, there is less stifling of economic activity and employment generation. Secondly, while the poor and rich pay taxes alike on goods, taxes on income and profits have a relatively egalitarian character.

Corporate taxes have since 2006-07 emerged as the single largest source of taxation for the Central Government.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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