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: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
Direct Tax »
 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
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal

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