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: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: form 3cd :: cpt :: VAT Audit :: VAT RATES :: empanelment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company
Direct Tax »
 CBDT issues final rules for taxing share buy back by companies
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT
 Tax department changes rule for accommodating deductions for deferred spectrum payment
 Tax dept renotifies income computation, disclosure standards
 Sushil Chandra to be the next CBDT chief

Net direct tax collection down by 17%
July, 08th 2011

The government's net direct tax collection dropped by 17% in the first quarter of 2011 to Rs 57,268 crore against Rs 68,675 crore in the same period last fiscal. The poor performance has been attributed to the 200% growth in tax refunds.

However, the gross direct tax collection during the April-June 2011 quarter has shown an increase of 24% at Rs 1,04,136 crore as against Rs 84,041 crore in the same period the previous year. Gross corporate tax collections were up 23% at Rs 68,223 crore as against Rs 55,244 crore last year. Personal income tax was up by 25% at Rs 35,859 crore against Rs 28,772 crore last year.

The refunds were to the tune of Rs 46,868 crore in the first three months of the current year as against Rs 15,366 crore in the first quarter last fiscal, an increase of 205%.

But as compared to the first two months of April and May, the tax collection has shown some improvement. The net collection had plunged by 48% to Rs 12,954 crore due to clearance of at least 40 lakh refunds amounting to Rs 37,451 crore in the first two months. The collection during the same period in the previous year was Rs 24,878 crore.

Despite high refunds, the CBDT claimed it will achieve the budget estimates of Rs 5,32,651 crore in 2011-12. Last year it had exceeded the revised target of Rs 4,46,000 crore.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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