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: VAT RATES :: cpt :: articles on VAT and GST in India :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd
 
 
« Direct Tax »
 Can we measure demonetisation’s impact on income tax collections?
 CBDT signs 2 more advance pricing pacts
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg

Will fix responsibility for low direct tax collection, Hasmukh Adhia tells CBDT
April, 01st 2016

Concerned over an expected glaring shortfall in direct taxes collection this fiscal, revenue secretary Hasmukh Adhia has written a blunt letter to the Central Board of Direct Taxes (CBDT) even as he sought “fixing responsibility” in the event the job remains unaccomplished.

The top finance ministry officer has expressed his “disappointment” in a recent letter to CBDT chairman Atulesh Jindal, saying the field offices of the income tax department have shown “laxity” in this work.

“First of all, the CBDT requested for reduction of budget estimate target which was done. Inspite of that, it now appears to me that revised estimate target may also not be achieved. If this happens Board and field functionaries would have to explain why it happened. Responsibility will also have to be fixed,” Adhia wrote on 23 March to Jindal.

A senior finance ministry official, on the last day of fiscal 2016 on Thursday, said it is expected that a shortfall of about Rs.40,000 crore could be registered in net direct taxes collection.

“Today is the last day. We still do not have the final figures for the total direct taxes collection during this fiscal,” the official said.

The revenue secretary, in the letter, has also sought Jindal’s immediate intervention in achieving the target. “Without day-to-day supervision and constant communication with Chief Commissioners and Commissioners of Income Tax it would not be possible to achieve the targets. As Chairman CBDT you must show your leadership and see to it that revised estimate targets are achieved fully,” the letter said.

Finance minister Arun Jaitley, during his budget speech last month, had revised the estimate for direct taxes to about Rs.7.52 trillion from Rs.7.98 trillion.

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

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