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: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: VAT RATES :: form 3cd
 
 
« News Headlines »
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you

I-T dept seeks addl Rs 61,412cr mop-up
May, 14th 2007

The Income Tax (I-T) department has issued notices to major corporates, rich individuals and other assessees, demanding additional taxes of Rs 61,412 crore.

"After the scrutiny of tax returns filed over the years and processing of returns for FY06, the department issued notices demanding additional tax of Rs 61,412 crore by March 31," a senior I-T official said.

He said the notices have been issued to assesses, which included major corporates and high net worth individuals.

Admitting differences in tax liability and tax submitted, the official said the assessees have already deposited as much as Rs 19,306 crore, about one-third of what was demanded.

This has helped Finance Ministry meet the revised target of Rs 2,29,007 crore direct tax collections for FY07.

Total direct tax collections, including personal income tax and corporate tax, reached Rs 2,29,181 crore during the fiscal.

The department is hopeful of realising a major portion of the remaining tax in coming months, the official said. Tax demands may be lowered as there was a possibility of a section of assessees contesting against the department in tax tribunals and courts, he added.

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