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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: TDS :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES
 
 
Direct Tax »
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules
 What is TDS and how does it work?
 Income tax return: Do super senior citizens have to file returns?

2% Of Indians & 380,000 Companies Doubled Direct Tax Revenue In 5 Years
June, 17th 2013

The good news. The Indian economy grew at 6.9% (at factor cost of 2004-05 prices) in 2011-12 while many parts of the world slowed down. The Economic Survey 2011-12 puts per capita net national income (at current factor cost) at Rs 60,972, an increase of 14% from Rs 53,331 in 2010-11.

IndiaSpend’s Prachi Salve looks at the latest report by the government auditor, Comptroller and Auditor General (CAG), and finds that while the economy has been growing, only 2.7% of India’s 1.2 billion population pay tax or only 33.5 million citizens pay income tax, marginally up from 31.3 million tax payers in 2006-07.

Now, some key findings: Direct tax collection has been exceeding budget estimates, and has almost doubled over the years from 2006 to 2011.

Direct tax collected has increased from Rs 2,30,181 crore in 2006-07 to Rs 4,46,934 crore in 2010-11, an increase of 94.2%.

Maharashtra, Delhi and Karnataka account for over 61% of the total direct tax collectedacross the country.

Focus On Direct Taxes

Taxes play two important roles in an economy: first, they are revenue resources that can be utilised for development, and second they help create equality through progressive taxation. Let us look at the five-year data on direct tax collections:

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

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