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: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd :: TDS :: cpt :: list of goods taxed at 4%
 
 
Direct Tax »
 Companies may have to submit income estimates by 15 November
 CBDT proposal on advance estimates of tax liability irks industry
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards
 CBDT asks I-T department to take urgent steps
 TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased

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 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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