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: Central Excise rule to resale the machines to a new company :: empanelment :: VAT RATES :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: cpt :: form 3cd :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT Audit :: articles on VAT and GST in India
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30

Explain shortfall in direct tax mop-up: Hasmukh Adhia to CBDT
April, 01st 2016

Revenue Secretary Hasmukh Adhia has sent a terse missive to the Central Board of Direct Taxes chairman Atulesh Jindal seeking an explanation for a likely shortfall in direct tax collections in 2015-16.

This comes after the government had sharply lowered its direct tax target for 2015-16 by Rs 45,974 crore in the Union Budget last month, but is unlikely to meet even this revised target.

In a letter dated March 23, Adhia has expressed his disappointment to the CBDT chairman for “laxity shown” by field officers in collection of taxes, despite a reduction in revenue target in the Budget presented last month. “The CBDT requested for reduction in BE target which was done. In spite of that, it now appears to me that RE target may also not be achieved. If this happens, Board and field functionaries will have to explain why it happened. Responsibility will also have to be fixed,” the letter to the CBDT head said.

Budget to simplify taxes, reduce exemptions and litigations: Hasmukh AdhiaSpurt in indirect tax to help meet target, says Revenue Secretary AdhiaPAN must for hotel bills, foreign airfare of over Rs 50,000Despite tax dampener, growth to exceed 7.5%, says FinMinMeet targets, but don’t harass taxpayers: CBDTCBDT stares at Rs 20K cr shortfall in collectionBudget to simplify taxes, reduce exemptions and litigations: Hasmukh AdhiaSpurt in indirect tax to help meet target, says Revenue Secretary AdhiaPAN must for hotel bills, foreign airfare of over Rs 50,000Despite tax dampener, growth to exceed 7.5%, says FinMinMeet targets, but don’t harass taxpayers: CBDTCBDT stares at Rs 20K cr shortfall in collectionBudget to simplify taxes, reduce exemptions and litigations: Hasmukh AdhiaSpurt in indirect tax to help meet target, says Revenue Secretary AdhiaPAN must for hotel bills, foreign airfare of over Rs 50,000Despite tax dampener, growth to exceed 7.5%, says FinMinMeet targets, but don’t harass taxpayers: CBDTCBDT stares at Rs 20K cr shortfall in collection

While presenting Union Budget for 2016-17 last month, finance minister Arun Jaitley had revised downwards the estimate for direct taxes to Rs 7,52,021 crore from Rs 7,97,995 crore estimated earlier for the financial year ending March 31. The estimates for indirect taxes, on the other hand, were revised upwards due to which the gross tax revenue target for 2015-16 was revised upwards to Rs 14,59,611 crore from Rs 14,49,490 crore estimated earlier.

In his letter to the CBDT head, the revenue secretary has further stated that it will not be possible to achieve the tax targets without day-to-day supervision and constant communication. “You must show your leadership and see to it that the RE targets are achieved fully,” the letter said.

Both the revenue secretary and the CBDT chairman did not respond to e-mail queries regarding the letter.
The official CBDT spokesperson told The Indian Express that the query will be communicated to the CBDT chairman. A response was, however, awaited till the time of going to print.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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