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: list of goods taxed at 4% :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« News Headlines »
 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
 Self e-filing of income tax returns
 Why do we get 3 extra days to file income tax returns in 2017?
 Income Tax department launches 'Operation Clean Money'-II
 Here’s how to e-file your income tax return

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 2017 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