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: VAT RATES :: empanelment :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit
 
 
Direct Tax »
  No relief to those who defaulted on 1st IDS installment: CBDT
 CBDT clears the air on rental incomes from industrial parks, SEZs
 CBDT signifies achievements towards eliminating domestic black money
 Seafarers get tax exemption from Ministry of Finance
 Financial institutions need to get accounts self-certified for FATCA by April 30
 Direct tax incentives to promote start-ups
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
 Central Board of Direct Taxes clarifies on cash curb, Aadhaar
 CBDT to issue PAN, TAN within a day to improve Ease of Doing Business
 Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT
 CBDT accomplishes direct taxes collection target for FY 2016-17

Delhi 2nd largest direct tax contributor
May, 02nd 2016

National capital Delhi contributed 13% to the total direct taxes collected in the country in 2014-15 and came a distant second behind India’s financial capital Maharashtra, whose share stood at 40%.

Delhi’s contribution was Rs 91,247.90 crore in 2014-15 when the total direct tax collection stood at Rs 6.96 lakh crore. Karnataka was third at Rs 60,595.22 crore and Tamil Nadu occupied fourth place at Rs 44,732.62 crore.

Prime Minister Narendra Modi’s home state Gujarat gave only Rs 35,912.46 crore in 2014-15. Maharashtra topped the list and gave Rs 2.77 lakh crore.

But in another startling revelation, the data showed that the share of direct taxes in the Indian economy fell to 5.47% in 2015-16, the lowest in almost a decade.

It showed direct taxes accounted for only 51% of total taxes collected last year. It was 56% in 2014-15.

Worse, only 2.9 crore people filed income tax returns in 2012-13. This was a little over 2% of India’s population of 120 crore. Only six people declared an average income of Rs 68.72 crore in 2012-13.

The data showed the number of individuals paying income tax decreased by 3.70 lakh between financial years 2012-13 and 2013-14. In 2013-14, 4.87 crore individuals paid taxes, down from 4.90 crore in the previous year.

The government said it released the data on popular demand by economists and India watchers.

“Our government has taken the landmark decision of publishing the income tax data. It is a big step towards transparency & informed policy making.” Prime Minister Narendra Modi said in a tweet.

Among others, French economist Thomas Piketty had urged the government earlier this year to increase tax revenues and release data on collection. After the release of the data, Chief Economic Adviser Arvind Subramanian tagged it to Piketty on twitter.

Subramanian had then contested Piketty’s suggestions to raise tax revenues.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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