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
Latest Expert Exchange
Direct Tax »
 CBDT lays down rules for concessional rate
 How can you minimise tax deduction and maximise take-home salary?
 Direct tax collection exceeds target in FY18
 Taking the 1st five steps to saving taxes Income Tax
 TDS on interest income: Want to avoid? Here’s how you can do this
 CBDT to modify advance ruling forms for transparency in cross-border deals
 New ITR forms for 2018-19 notified by CBDT
 Income Tax Return form: There are many changes you need to know
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
 Income tax return forms for FY 2017-18 released
 10 benefits of filing ITR even if you are below taxable bracket

Direct tax kitty up 4%, target looks difficult
September, 04th 2009

An enhanced target Rs 400,000 crore set by the government for the Central Board of Direct Taxes (CBDT) to mop up in the current fiscal looks difficult to achieve going by the rate at which tax collection is growing.

Direct tax collections grew by around 4% to Rs 87,888 crore in the first five months of this fiscal. It had grown by 3% in the first four months.

Direct tax collections like corporate and personal income tax, and STT during April-August were at Rs 87,888 crore, a rise of 4.12% over last year's collection during the same period, an official statement said on Thursday.

Corporate tax collections during this period grew by a meagre 1.84% to Rs 49,339 crore compared to Rs 48,450 crore a year ago.

Collections under personal income tax, including securities transaction tax (STT), the residual Fringe Benefit Tax and remaining BCTT, grew by 7.4% to Rs 38,491 crore from Rs 35,840 crore in the previous year. Net collections during August 2009 remained positive at Rs 13,898 crore compared to Rs 12,761 crore during August 2008.

The increase in STT during April-August 2009 to Rs 2,924 crore as against Rs 2,730 crore in the corresponding period last fiscal indicates recovery of stock market.

The second instalment of corporate advance tax and the first instalment of non-corporate advance income tax will be due on 15th September 2009, that would give some clear picture on the tax collection for the next few quarters.

The advance tax liability for both categories of taxpayers, corporate and non-corporate, is 30% of the estimated total tax liability for the financial year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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