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 :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: ACCOUNTING STANDARDS :: TDS
 
 
« News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Income-tax payer base doubles in a decade, helps in higher revenue mop-up
April, 16th 2009

The number of income-tax payers in the country has nearly doubled from 1.73 crore in 1998-99 to 3.37 crore in 2007-08, going by the data available with the tax department.

In 1998-99, the effective income-tax payers base stood at 1.73 crore with their overall contribution to the exchequer at about Rs 46,600 crore.

The taxpayer base for 2007-08 had swelled up to 3.37 crore with direct tax contribution to the exchequer at Rs 3,12,000 crore.

Also the share of corporate taxes to the total direct taxes had gone up from about 50 per cent in 1998-99 to 60 per cent in 2007-08, as Indian companies made robust profits aided by the strong economic growth during 2004-05 to 2007-08.

The year 2007-08 was a landmark year for another reason it was the first time ever that the direct tax collections accounted for more than 50 per cent of the Centres revenue kitty.

There have been a number of factors that brought about the deepening as well as widening of taxpayer base. Initiatives such as computerisation of the department (since 2001) has to some extent contributed to the deepening although there are issues like need for faster processing of returns that the department was still grappling with.

Also, tax information network (TIN) and mandatory e-filing of returns eased compliance with income-tax law and procedures.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

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