Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: empanelment :: due date for vat payment :: articles on VAT and GST in India :: TDS :: VAT Audit :: VAT RATES
 
 
« Direct Tax »
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months
 Income Tax Slab for AY 2017-18: Know your tax category

Direct tax arrears jump 94% in 3 years
May, 22nd 2013

Though the revenue demand in tax cases have gone up dramatically — arrears in direct taxes increased in FY13 to R4,82,027 crore from R3,33,079 crore in FY12 and R2,48,927 crore in FY11, in indirect taxes it increased to R1,03,975 crore in FY13 from R33,791 crore in FY09 and service tax arrears registered a ten-fold rise in FY13 — the success of the revenue department in the courts has improved only marginally, in some cases gone down drastically.

In direct taxes, of the 20,884 cases disposed of at the income-tax appellate tribunals (ITAT) in FY12, 13,656 were filed by the department. In case of direct taxes, the number of appeals filed by the assessees is more than the number filed by the department, the outcome remains the same at various appellate authorities .

Now the government has decided to look at ways to reduce the number of cases. Planning Commission deputy chairman Montek Singh Ahluwalia last week indicated that the government had initiated discussions on constituting an internal mechanism for settling disputes with the private sector.

This is after a parliamentary panel on finance in its report said, "As regards tax arrears, both direct and indirect taxes, the committee finds that the situation is becoming grimmer by the day, and recommends urgent, time-bound and concrete action-plan to clear the backlog and realize revenue dues".

The data on the success rate of the department at different appellate bodies during FY10 and FY12 shows that at the ITAT level, out of a total of 6,674 cases, only 23% of the cases filed by the taxpayers were decided in favour of the department — a 35% jump in FY12. At the high court level, the success rate in cases filed by the assessees improved from 26% in FY10 to 36% in FY12. However, in the Supreme Court, the success rate dropped to 14% in FY12 from 42% in FY11.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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