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: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: form 3cd :: articles on VAT and GST in India
« News Headlines »
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17
 Non-taxing GST apps to make filing income tax return less painful

Centre's tax kitty falls in 2008-09
April, 28th 2009

The Centre's tax kitty has fallen by over Rs 20,000 crore compared to the truncated target of Rs 6.26 lakh crore for 2008-09 as the economy slowed and the government cut indirect tax rates to spur economic growth.

Direct tax collection stood at Rs 3.37 lakh crore during the last fiscal, which is short of Rs 3.45 lakh crore revised target, Revenue Secretary P V Bhide told reporters here today.

The target for direct tax collection was revised downwards from budget estimates of Rs 3.65 lakh crore for 2008-09. The actual collections were, however, 8 per cent up over Rs 3.12 lakh crore in 2007-08.

Indirect tax collections stood at Rs 2.65 lakh crore against revised target of Rs 2.81 lakh crore for 2008-09. The indirect tax collections were also revised downwards from Rs 3.21 lakh crore in the budget estimates.

The actual collections for indirect taxes were lower than Rs 2.81 lakh crore realised in 2007-08.

Bhide, who was here to attend the passing out of 61st batch of Indian Revenue Service (IRS) at the National Academy of Direct Taxes (NADT), said the cut in duty taxes reduced the indirect tax collections.

The government had cut excise duty by six per cent and service tax by two per cent in three stimulus packages to propel the economy. Bhide also said the new direct tax code would be brought in soon.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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