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: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: cpt :: ACCOUNTING STANDARDS :: TDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: list of goods taxed at 4% :: VAT RATES :: Central Excise rule to resale the machines to a new company
 
 
Direct Tax »
 Government sets up a panel to draft new direct tax law
 High court judges, experts brainstorm on likely GST litigations
 Businesses need not deduct GST on advances received for goods supply: CBEC
 Redress taxpayers' grievances on priority: CBDT to I-T department
 No tax relief on EPF interest if not employed: ITAT
  CBDT signs 7 more unilateral APAs with taxpayers
 Income tax returns (ITR) filing: Get capital gains tax exemption on new property; here is how
 Reach out to non-filers of GST returns: CBEC to fields offices
 CBDT may shelve plan to seek corporate tax estimates in advance
 IT expertise at banks' board level a must, says RBI ED
 Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961

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