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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: list of goods taxed at 4% :: form 3cd :: cpt :: VAT Audit :: empanelment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARD :: VAT RATES :: due date for vat payment
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 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

I-T collection 27% up
May, 07th 2008

The Gujarat Income Tax circle, comprising four divisions Ahmedabad, Vadodara, Rajkot and Surat has registered a growth, 27 per cent its collections for financial year 2007-08 compared to the year before that. Moreover, the region has outstripped other metro centres like Kolkata and Chennai in tax collection.

However, the circle failed to meet the annual target of Rs 15,713 crores, with a collection of Rs 11,649 crores. I-T officials cite reasons such as stock market crash as well as merger of IPCL into Reliance Industries for being unable to meet the target. The merger of IPCL into Reliance Industries resulted into Rs 828 crores tax of IPLC going to Maharashtra this year, said a top I-T official.

In 2007-08, Vadodara division has failed to surpass the collection as compared with the corresponding period 2006-07. Vadodara division collected Rs 2,712 crores, as against Rs 2,773 crores in 2006-07.

The recession in the diamond industry of Surat and the adjoining areas have hit the I-T collection in Surat division. The increasing prices of rough diamond and the rupee appreciation against dollar has hit the diamond export business, and our collections in turn, said the official.

Officials said that the meltdown in stock markets also affected the collections in the later half of the financial year.

Our collection till October was 72.8 percent. However, in the later half of the financial year our collections declined up to 35.6 percent, they said.

The officials have disclosed that the department is conducting surveys in major towns to assess the potential of income tax collection.

The I-T officials have prepared a data base of coaching institutes, private nursing homes and clinics.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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