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% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: TDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Who can file tax returns under presumptive taxation scheme
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017

Uncollected taxes for 2007-08
July, 11th 2009

The government has uncollected revenue of over Rs 1.24 lakh crore in respect of corporate and income taxes at the end of 2007-08, a Comptroller and Auditor General of India (CAG) report said.

"Uncollected amount of Rs 1,24,274 crore in respect of corporation and income tax comprised demand of Rs 86,859 crore of earlier years and current demand of Rs 37,415 crore for 2007-08," said the report tabled in Parliament today.

It said in terms of corporation tax the arrears increased to Rs 68,662 crore in 2007-08 from Rs 55,098 crore in 2005-06, while income tax arrears increased to Rs 55,612 crore in 2007-08 from Rs 40,289 crore.

During 2007-08, against Rs 36,057 crore certified By Tax recovery Officer for recovery, only Rs 8,612 crore (23.98 per cent) could be recovered. There was an improvement in recovery from 14.01 per cent in 2005-06 to 24.2 per cent in 2006-07 and a marginal decline to 23.89 per cent in 2007-08.

The report further said the government had collected Rs 1.03 lakh crore of income tax during the year which accounted for more than 32 per cent of the total direct tax collection.

The number of income tax assesses as on March 2008 were 3.32 crore, registering an increase of 7.34 per cent over last year.

It also said that the government suffered a revenue loss of Rs 1,257 crore in 2007-08 because the I-T department did not collect taxes.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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