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: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: VAT RATES :: due date for vat payment :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD
 
 
« Direct Tax »
 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
 What is TDS and how does it work?
 Income tax return: Do super senior citizens have to file returns?

Direct tax collections may not meet govt's target
March, 14th 2009

Even as the final advance tax numbers are awaited, it appears that direct tax collections this year may find it tough to meet the government's target. Government officials said direct tax collections are seen at Rs 2.72 lakh crore till today. March collections were at Rs 10,000 crore so far and are running slower than expected. They further stated that there is a need to wait for advance tax payment figures till March 15. The revised estimate for direct tax is at Rs 3.45 lakh crore for FY09.

Here is a verbatim transcript of Siddarth Zarabis comments on CNBC-TV18.

Its not a surprise there is of course a clear correlation to the slowdown. In the Interim Budget that was presented, the government had revised the target for 2008-09 to Rs 3,45,000 crore and what I pick up from my sources is that till early afternoon, today the total direct tax collection stood at Rs 2,72,000 crore and the March collection; March is always a very interesting month for collection. In March 2007 around Rs 60,000 crore were collected and in March 2008 the number rouse to Rs 80,000 crore. But this year so far its only Rs 10,000 crore and that has set alarm bells ringing.

 

Officials still say that they will have to wait for the final figures of the advance tax payments to come in and collate the data post 15th March. But at this point of time the revenue department would need to collect another Rs 50,000 crore in the remaining days of this month to reach the target of Rs 3,45,000 crore. So its a bit of a stretch at this point of time. But a final picture will emerge within the next five-seven days.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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