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: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: TDS :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
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?

Direct tax receipts up 39% y/y in June quarter
July, 04th 2008

India's direct tax receipts jumped 38.6 pct in the quarter to June from a year earlier to Rs 57373 crore ($13.28 billion) riding on robust corporate payments, a finance ministry statement said on Friday.

The finance minister said on Tuesday the government hopes strong revenue growth in the year to March 2009 would help keep the fiscal deficit below its annual target.

But an analyst said the last quarter's figures were a spill-over from high economic growth of the last 2 years, adding expansion in receipts may taper off.

"Going forward, we don't expect this momentum in tax collection will continue. The fiscal deficit is going to be wider at 3-3.5 per cent of GDP," said N.R. Bhanumurthy, an economist with the Institute of Economic Growth.

On Friday, the finance ministry said corporate taxes came in 32.7 per cent higher at Rs 34566 crore during the April-June period, while income tax receipts stood at Rs 22782 crore, 48.8 per cent more than a year ago.

Growth in tax collections in June slowed from a scorching 71.3 per cent growth in the April-May period as the government made a hefty refund payout of Rs 11578 crore.

The government expects robust tax revenue in the year to March 2009 to keep the fiscal deficit below a target of 2.5 per cent of gross domestic product (GDP) in 2008/09 compared to 2.8 per cent of last year.

The cash-strapped government has pledged to spend billions of rupees on populist schemes ahead of elections and has to foot a heft subsidy bills in order to keep fuel and food prices low.

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

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