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: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: form 3cd
 
 
« Direct Tax »
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg
 CBDT issues draft rules for valuation of unquoted shares
 Central Board of Direct Taxes releases rules to compute fair market valuation of unlisted shares

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