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: Central Excise rule to resale the machines to a new company :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: articles on VAT and GST in India :: VAT Audit :: cpt :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Income tax return: TDS refund on capital gains invested needs to be instant
 CBDT holds circular on indirect tax provisions
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT
 Govt expects direct and indirect tax targets to exceed budget estimates this fiscal

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 2017 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