Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: VAT Audit :: cpt :: articles on VAT and GST in India :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARD :: TDS :: ACCOUNTING STANDARDS
Direct Tax »
 CBDT to prescribe deadline for MNC units to file details of operations in certain cases
 Filing your return may not mean the end of tax issues
 Filing tax return before March 31? Here is what you should do and what not
 CBDT invites suggestions to draft new Direct Tax Law
 Deadline For Income Tax Returns Filing Only 12 Days Away. 10 Points
 Income Tax: E-assessment ensures greater efficiency in the taxation system
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds

FY09 direct tax collection up 8.33%
May, 21st 2009

Net direct tax collection during the fiscal FY09 stands at Rs3.38 trillion, up from Rs3.12 trillion during FY08, registering a growth of 8.33%.

As per available figures, net direct tax collection during the fiscal FY09 stands at Rs3.38 trillion, up from Rs3.12 trillion during FY08, registering a growth of 8.33%. Growth in Corporate Taxes was 10.84% (Rs2.13 trillion as against Rs1.93 trillion), while Personal Income Tax (including FBT, STT and BCTT) grew at 9.09% (Rs1.24 trillion as against Rs1.19 trillion). Growth in Fringe Benefit Tax (FBT) was 12.38% (Rs79.97bn as against Rs71.16bn). Securities Transaction Tax (STT), however, declined by 36.95% (Rs54.08bn as against Rs85.77bn).

Despite economic slow-down and substantial relief to non-corporate taxpayers, direct tax collections exceeded the previous year s collection by about Rs260bn, Corporate tax deducted at source (TDS) registered a growth of 35.4% (Rs616.83bn against Rs454.5bn last year); PIT TDS registered a growth of 16.3% (Rs687.86bn against Rs591.45bn last year); and Central Government TDS registered a growth of 65.39% (Rs33.64bn against Rs20.34bn last year). Taxes collected include an all time high additional tax amounting to Rs312.42bn collected out of tax demand raised by the Income Tax department. This amount consists of tax arrears of Rs100.16bn and current tax of Rs212.26bn.

Collection of direct taxes has more than tripled from Rs1.05 trillion in FY04 to Rs3.38 trillion in FY09 at an average annual growth of 26.75% against an average annual growth rate of 18.86% between 1990-91 to 2001-02. Direct tax as %age of GDP stands at 6.23%, a marginal decline from 6.61% achieved during FY08.

However, direct tax to GDP ratio has increased from 3.81% in FY04 to 6.23% in FY09 as compared to increase from 2.1% in 1990-91 to 3.03% in 2001-02, contributing over 55% of central tax revenues. The cost of collection, which increased to 0.66% during FY09 from 0.54% during FY08, still remains one of the lowest in the world.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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