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% :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: form 3cd :: articles on VAT and GST in India
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30

Net direct tax collections up 15.5% in Q1
July, 07th 2010

Buoyed by strong show on industrial growth front, the Centre's net direct tax collections grew 15.49 per cent in the first quarter this fiscal to Rs 68,675 crore (Rs 59,465 crore). This growth is substantially higher than the 3.65 per cent year-on-year growth seen in net direct tax collections in the first quarter of 2009-10.

Much of this growth performance could be attributed to the robust increase in corporate tax payout for the quarter under review. For the April-June 2010 period, corporate tax collections grew 21.65 per cent to Rs 43,439 crore (Rs 35,709 crore), official data showed. Corporate tax collections grew 3.31 per cent in the first quarter of 2009-10.

For the June 15 instalment in 2010, corporate advance tax stood at Rs 26,876 crore, reflecting a 31.4 per cent increase over Rs 20,456 crore collected in the same instalment last year. The 31.4 per cent growth is the highest since 2005, according to an official release here. The corresponding growth in corporate advance tax stood at -3.4 per cent, 25.1 per cent, 30 per cent and 26.9 per cent for FY 2008-09, 2007-08, 2006-07 and 2005-06, respectively.

Personal income-tax (including securities transaction tax or STT, and residual FBT and BCTT) grew 1.24 per cent to Rs 24,075 crore (Rs 23,780 crore) during the first quarter of 2010-11.

Meanwhile, STT collections nosedived to Rs 1,094 crore during April-June 2010, reflecting a 25.21 per cent decline over Rs 1,462 crore collected in same period last year. This steep fall in STT collections is being attributed to the decline in stock market turnover for the period under review. STT collections had declined even in the first quarter of last year to Rs 1,462 crore against Rs 1,623 crore in April-June 2008, reflecting a decline in value of trade in stock market.

In Budget 2010-11, the Government had pegged the direct taxes collection target for the current fiscal at Rs 4.3 lakh crore. The Finance Minister, Mr Pranab Mukherjee, recently said at an income-tax commissioners' conference that he expects the Revenue Department to better this Budget Estimate, although the target was not being formally revised upwards.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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