Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: ACCOUNTING STANDARDS :: cpt :: form 3cd
 
 
« News Headlines »
 Income tax returns (ITR) filing guide: 10 excellent tax-saving options other than Section 80C to save money
 TDS Rate Chart for AY 2018-19
 Last date to submit third installment of advance tax is December 15
 5 tax-saving funds that have given stellar returns in the past 5 years
 Find out which ITR Form is suitable for you
  Pr CIT vs. Baisetty Revathi (Andhra Pradesh High Court)
 What is income tax?
 Refund procedure initiated under GST
 Income tax returns (ITR) filing: How to get capital gains tax benefits on assets in own name
 7 avenues to help you save tax under Section 80C of Income Tax Act
 How to make income tax law less taxing

Robust growth boosts net direct tax mop-up
August, 22nd 2007
44.39% rise in April-Aug 15 period

Improved tax administration and a robust economic growth have started showing results. Continuing with its buoyant growth, the Centres net direct tax collections grew 44.39 per cent since the beginning of the current fiscal till August 15 to Rs 59,210 crore, significantly higher than Rs 41,006 crore recorded during the same period of the previous year.

Official sources confirmed that the growth rate of the direct tax collections has been above 40 per cent so far this fiscal (on a year-on-basis). In fiscal 2006-07, net direct tax collections grew by about 39 per cent, the best performance over the last two decades.

The Finance Ministry attributed the continued buoyancy in direct tax collections to robust growth in the economy, better tax compliance and improved tax administration.

For the financial year 2004-05, the AIR (annual information return) submitted related to 19.32 lakh transactions involving an amount of Rs 14.06 lakh crore. For 2005-06, the tax department has 20.52-lakh transactions under the AIR net involving an amount of Rs 16.47 lakh crore.

Strong Growth

Besides the AIR system, the other factor that has led to buoyancy was the strong growth in collections through Tax Deduction at Source, which has grown by over 40 per cent for the period under review.

With corporate India recording hefty growth in profits, salaries have shot up and this has led to higher TDS, said a CBDT official.

While corporate tax collections for the period under review increased by 52.25 per cent to Rs 33,164 crore (Rs 21,783 crore), personal income tax (including FBT, STT and BCTT) grew by 35.57 per cent to Rs 25,989 crore from a level of Rs 19,170 crore in April-August 15 last year.

An official release said here that the Securities Transaction Tax (STT) collections grew 36.30 per cent to Rs 2,495 crore.

The Banking Cash Transaction Tax (BCTT) ws up by 29.71 per cent to Rs 207 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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