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: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: 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 :: ACCOUNTING STANDARDS :: VAT RATES :: TDS :: articles on VAT and GST in India :: form 3cd :: due date for vat payment :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT
Indirect Tax »
 Income Tax dept to intensify anti-black money operations
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre

FM to meet I-T brass, discuss steps to raise advance tax receipts from auto sector, LLPs
July, 22nd 2014

Finance minister Arun Jaitley will meet the brass of the income-tax department on Monday to discuss steps to raise advance tax receipts from sectors like automobiles where early signs of revival have been seen, limited-liability partnerships (LLPs) that are subject to alternate minimum tax and real estate firms.

At a conference of the chief commissioners and director generals of income tax, the finance minister is also expected to discuss strategies to improve collections from tax deducted at source (TDS), revenue targets for various cities, plans to recover tax arrears and ways to make foolproof cases against tax evaders, sources said.

Besides attempting to improve advance tax receipts, which accounted for about 40% of the R7.27 lakh crore gross direct tax collection last fiscal, officials are also likely to focus this year on top 100 advance tax payers, who make up for 79% of the total receipts under this category.

Advance tax receipts from corporate houses grew 8.2% last fiscal, while personal income tax expanded by over 11% in the same period. The tax department, therefore, would urge field officers to focus on corporate tax payers to improve revenue collection.

The department is also expected to keep a close watch over the advance tax paid by banks, power generation and transmission companies and LLPs for any short payment.

As per the plan to boost revenue collection, field officials would be asked to compare the advance tax paid by large- and medium-sized companies with their published quarterly profit-and-loss statements. Companies that report losses when the industry as a whole is profit-making, are likely to attract attention of the field officers. The department is also expected to write letters to over 22 lakh individuals who make high value payments but do not file tax returns.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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