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: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: cpt :: VAT RATES :: form 3cd :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4%
Direct Tax »
 CBDT issues final rules for taxing share buy back by companies
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT
 Tax department changes rule for accommodating deductions for deferred spectrum payment
 Tax dept renotifies income computation, disclosure standards
 Sushil Chandra to be the next CBDT chief

Direct tax collection falls Rs6,000 crore short of revised target
May, 22nd 2009

Direct tax collections in the country for fiscal 2008-09 stood at Rs339,000 crore, Rs6,000 crore short of the government's revised target of Rs345,000 crore, as the economic slowdown hit corporate earnings.

The government had lowered its target for direct tax collection from Rs364,000 crore to Rs345,000 crore in order to factor in the effects of the economic crisis on revenues.

At Rs339,000 crore, direct tax collections for the fiscal 2008-09, however, was higher than the Rs312,000 crore collected during fiscal 2007-08.

As per official figures, net direct tax collections in fiscal '09 were up 8.33 per cent compared to FY08.

Corporate tax collections rose 10.84 per cent to Rs213,000 crore from Rs193,000 crore in the previous year. Personal income tax (including FBT, STT and BCTT) grew 9.09 per cent to Rs124,000 crore in 2009 from Rs119,000 crore.

Fringe benefit tax (FBT) collections were up 12.38 per cent (Rs7,997 crore as against Rs7116 billion). Securities transaction tax (STT), however, declined 36.95 per cent to Rs5,408 crore from Rs8,577 crore,  according to the official release.

Direct tax collections exceeded the previous year's collection by about Rs26,000 crore despite the economic slow-down and substantial relief to non-corporate taxpayers.

Direct tax collection has more than tripled from Rs105,000 crore in FY04 to Rs3.38 trillion in FY09, growing at an average annual growth of 26.75 per cent.

Direct tax to GDP ratio has increased from 3.81 per cent in FY04 to 6.23 per cent in FY09, but has fallen from 6.61 per cent in 2007-08 top 6.23 per cent in 200708.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

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