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 :: cpt :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: form 3cd :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment
 
 
Direct Tax »
 I-T department guidelines for interest waiver in specific cases offer tax relief
 ICDS provisions to prevail over judicial precedents: CBDT
 CBDT forms committee to check absconding I-T dept officers
 Central Board of Direct Taxes asks taxman to make all out efforts to recover arrears
 CBDT to honour honest taxpayers
 Startups in the docks over marked down valuation tax as March 31 nears
 CBDT asks taxman to make all out efforts to recover arrears
 CBDT chief prods taxmen to buck up, meet recovery target
 CBDT to hold review meeting on PMGKY, tax collection on Mar 17
 Monitor tax collection to meet target by Mar 31: CBDT to taxman
 File prosecution cases against shell companies: CBDT to taxmen

India's Direct Tax Collection For Apr-May Grows 71%
June, 20th 2008

India's net direct tax collections in the first two months of April and May of the current fiscal year grew 71.28% and stood at Rs.22, 840 crores up from Rs.13, 335 crores in the same period of previous fiscal, showed government data released by the Ministry of Finance.

Direct Tax collections have been witnessing high growth rate due to better tax compliance by the taxpayers and improved tax administration. The cost of collection has declined to an all-time low of 0.54% during the fiscal year 2008, among the lowest in the world.

The collection of corporate taxes grew 68.05% to Rs.8, 126 crores in the two months compared to Rs.4,835 crores in the same period last year. Personal Income Tax grew 73.05% to Rs.14, 690 crores from Rs.8, 489 crores in the corresponding period of previous year. Tax deducted /collected at source continued to grow at 51% as it was in April-May in 2007, said the report.

The release said that the growth in direct taxes has been achieved in spite of larger refund payouts at Rs.9, 014 crores in the first two months compared to Rs.5, 037 crores in the same period of last year. Though there was shortage of manpower, refunds were issued to 48-lakh taxpayers compared to 44.5 lakh refunds in the previous fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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