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: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

Direct tax mop-up in Mumbai surges 158%
August, 25th 2006
Direct tax collection from the Mumbai zone stood at Rs 11,400 crore for the period between April 1 to July 15 compared with Rs 4,800 crore for the same period last year. Speaking to the press, K Venkataramani, chief commissioner of income tax, Mumbai, said the almost 158 per cent growth reflects the robust performance of industry sectors such as banking, automobile, pharmaceuticals and insurance. The target collection from the Mumbai zone is Rs 69,000 crore for the full financial year and the department has drawn a detailed action plan to achieve the target. As part of its plans, the department will start onsite surveillance of TDS (tax deducted at source) collection. The major source of revenue this financiaL year will be advance taxes, since various new sectors have been added under the category, Venkataramani added. Some of these include capital gains and minimum alternate tax. The department will start verifying registration of political parties in order to make sure TDS is deducted from them. Venkataramani added that the government is considering several new areas which could be brought under the purview of data collected under the annual information return figures. In order to sort out the issue of duplication of permanent account numbers (PAN), the department has started deduplication of existing PAN accounts. It may be mentioned that in its meeting held with the chief commissioners last month, the board had decided to put additional thrust on annual information returns (AIRs) filed with the registrar of properties, mutual funds, banks and post offices to track high value transactions. According to sources, it has been found that a total of 84,000 individuals have entered into high value transactions in 2004-05 in Mumbai, of which only 35,000 have replied to queries sent by the income tax department. Tax departments have been directed to pursue the other cases, which the board feels may be out of the ambit of permanent account number. Even as the department has written letters to these individuals, it is yet to receive any response.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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