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
Latest Expert Exchange
Direct Tax »
 7 lesser-known investments, expenditures eligible for tax breaks
 CBDT asks to Pay Third Installment of Advance Tax by Dec 15
 TDS system helps taxmen detect Rs 10 crore GST evasion in Karnataka
 No need to generate slip! From bank ATM to Aadhaar, 5 steps to tax redemption Income Tax Return (ITR) filing
 Income Tax Return (ITR) filing alert! These errors are in your ID? Do this ASAP or you will be trapped
 TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens
 Income Tax payers alert! ITR filing process set to witness unprecedented change – What CBDT chairman has confirmed
 ITR forms will soon be pre-filled for you: CBDT’s Sushil Chandra
 I-T dept working on pre-filled income tax return forms, says CBDT chief Sushil Chandra
 Big changes coming, will tax rates be cutIncome tax return
 Notification No. 78/2018 - Customs Central Board Of Indirect Taxes And Customs

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 2018 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