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% :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: empanelment :: cpt :: articles on VAT and GST in India :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4%
 
 
News Headlines »
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

I-T records impressive advance tax collection
September, 17th 2010

The Income Tax (I-T) department has witnessed a 25.3 per cent improvement in advance tax collections in the state at the end of the second quarter this financial year. This is significant as the collection figures in Mumbai, which accounts for more than half the direct tax kitty in the country, has recorded an overall growth figure of 13-14 per cent from last year.

The collection figures this financial year (including the first and second quarter) for Andhra Pradesh stood at Rs 3,256 crore on September 15 (the last date for tax payers to pay advance tax in the second quarter). Last year, the advance tax collection stood at Rs 2,598 crore by the end of the second quarter.

Senior officials in the department said that the growth has been satisfactory, though they had expected a 30 per cent rise this financial year. The department, however did not give out the name of the sector which contributed majorly to advance tax collections this financial year.

"We are yet to figure out if one particular sector contributed majorly to advance tax collections or it has been an overall increase from all sectors put together," said a senior department official.

It is yet to be ascertained if the advance tax payment under the capital gains category has contributed significantly to the high collection figures this financial year, as expected by I-T department.

Significantly, advance tax collections in the first quarter which concluded in June had recorded a 30 per cent rise. The second quarter recorded a little less advance tax collection, said officials. The advance tax collection figures are usually the highest in the last quarter, said officials.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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