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 »
 CBDT lays down rules for concessional rate
 How can you minimise tax deduction and maximise take-home salary?
 Direct tax collection exceeds target in FY18
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket

Mumbai I-T Dept. to collect 17% more corporate tax this year
July, 05th 2011

The Mumbai income-tax department, which accounts for 35-40 % of the country's total tax collections, is planning to collect 17.2% more corporate tax than last year, as revenue authorities expect buoyancy in the economy seen last year, to continue.

The projected corporate tax collection from Mumbai for the current fiscal is Rs 127,200 crore. The government has fixed a 20% higher target for the current fiscal year's all India direct tax collection at Rs 532,630 crore. However, senior Income-tax officers say the advance tax collection in the next installment, due in September, will be a better indication of whether they can meet the target.

Advance taxes are collected in four installments, June, September , December and March. Over 40% of the estimated advance taxes are paid by September and therefore the September figures are considered a fair indication of the total advance tax collected in the year. The tax department is aware of the general mood which has seen deferment in various projects, bringing back memories the 2008-09 period when the first installment showed a 75% increase in tax collection, but fell sharply by the end of the year, as a fallout of the economic downturn triggered by the collapse of Lehman Brothers.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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