Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 Net direct tax collections exceed 2023-24 target
 Govt kicks off direct tax code revision
 ITR 2024 25 Check tax department s update on TDS and refunds
 Income Tax: Why did some taxpayers receive notice for discrepancy in house rent receipt? IT Dept explains
 Income tax exemption: 4 financial instruments you can still invest into before March 31
 CBDT drops small tax demands but not TCS, TDS claims
 ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
 Income Tax Notice: What to do if you receive a Section 143 (1) notice from taxman?
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return

Gujarat among top 5 in growth
May, 23rd 2016

In terms of direct tax collections, Gujarat has recorded the fifth highest growth among states across the country in financial year 2014-15 over the previous year. According to data released by income tax department on its website; Gujarat registered a growth of 24.76% in direct taxes collections in 2014-15 over that of 2013-14.

In the same period, Mizoram, Andaman & Nicobar, Sikkim and Himachal Pradesh recorded growth in direct tax collection of 123.53%, 76.8%, 57.68% and 25.88% respectively. At the same time, the national average stood at 8.9%.

Gujarat recorded collections of Rs35, 912.46 crore in 2014-15 against Rs 8,783.9 crore in 2013-14. Interestingly, Gujarat remained ahead of all big and industrialized states such as Maharashtra, Karnataka, Tamil Nadu and Andh ra Pradesh among others.

The income tax department on Friday released the data of last 16 years of direct taxes collection in the country and state-wise data from 2008-09 to 2014-15.

From 2008-09 to 2014-15 Gujarat's direct taxes collections jumped from Rs12,577.3 crore to Rs35,912.46 crore, a growth of 185.5%. In the same period, Sikkim recorded a staggering 1009% growth from Rs29.2 crore to Rs323.88 crore.

There are total 10 categories of income tax assessees in India. This includes individuals, corporates, trusts, local authorities, government, partnership firms, Hindu Undivided Family (HUF), body of individuals, association of persons and artificial juridical person.

Until 2014-15, direct taxes included income tax, wealth tax and some other taxes. Last year from April, wealth tax was abolished.

Maharashtra is the biggest contributor to the Indian government's income tax collections. The state contributed Rs2, 77,720.11 crore, or about 40 per cent, of the total Rs6,95,788.85 crore income tax collection, in financial year 2014-15.

Overall, the number of income tax payees declined to 5.17 crore (provisional) in financial year 2013-14 (assessment year 2014-15) from 5.21 crore in the previous financial year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting