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: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: empanelment :: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
News Headlines »
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return

I-T to check other depts for tax evasion
June, 08th 2007
Railways, defence, telecom and some other government departments could face special audits by income-tax department. Lower tax payment by the departments has led the department to examine a proposal to that effect.

All government departments have to deduct tax at source whenever they make a payment to a contractor. The TDS collection from the departments has been low, according to income-tax sources. This is despite the fact that these departments are some of the largest using the contracts system, the source said. Of the TDS collection of Rs 70,000 crore, only Rs 1,500 crore came from government departments.

The income-tax department plans to place greater emphasis on TDS as the payments are collected by the government even before the income is received by the beneficiaries. Therefore, TDS administration is being tightened and the income-tax department plans to create a separate directorate for day-to-day monitoring of TDS collections.

Officers would be posted in 12 commissionerates to keep a tab on TDS collections from government departments in key cities like Delhi and Mumbai. The directorate will conduct training programmes for government departments to highlight the importance of deducting tax at source.

Recently, the Comptroller & Auditor General of India (CAG) asked the income-tax department to tighten its TDS administration. The finance ministry may take necessary steps to bring in all tax deductors into the tax net and enforce recovery of tax deducted at source and tax collected at source as required under the Act, the CAG said in its report for 2005-06.

Tightening of the TDS administration is important as it forms a large chunk of the governments total tax collections. In 2005-06, TDS collections accounted for 33% of total direct tax revenue.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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