Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Direct Tax »
Open DEMAT Account in 24 hrs
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
 ITR filing: Tax rules on income from house property that your should know
 CBDT likely to issue rules on angel tax next week
 Pension Taxation: Everything you need to know for ITR filing
 Income tax guide on pension: How to file pension income in ITR?
 Six Tax Deducted at Source (TDS) Rules Changed. Heres What Every Taxpayer Should Know
 ITR filing rules for children 2023: When is it mandatory to pay taxes and file returns?
 ITR filing Last Date 2023-2024: Due date to file Income Tax Return

FinMin: Revenue through the direct tax collection rose 17.2%
October, 30th 2010

The Ministry of Finance has said that revenue through the direct tax collection rose 17.2 per cent to around Rs 2.02 lakh crore as of September 30, and that this was 47 percent of the government's budgetary target for the current fiscal.

Speaking to reporters after an interactive session on Direct Taxes Code (DTC) organised by Confederation of Indian Industry (CII) here, Sunil Mitra, revenue secretary in the ministry of Finance, said that tax collection, both direct and indirect, target for the current fiscal was Rs 7.45 lakh crore.

Of that, Rs 3.15 lakh crore will be through indirect tax and Rs 4.30 lakh crore through direct tax.

Looking at the current growth scenario, tax collection in the current fiscal will increase by around 19 per cent compared to last year, said Mitra.

Revenue from customs between April and September 2010 was Rs 62,747 crore as compared to Rs 37,907 crore last year, an increase of 65.5 per cent.

Central excise collection stood at Rs 60,360 crore as compared to Rs 43,234 crore, an increase of 39.6 per cent. Service tax collection rose by 16 per cent to Rs 26,889 crore from Rs 23,188 crore.

According to Mitra, of the 32.5 million income tax base, 30 per cent of the tax payers are in the zero to Rs 5 lakh category while 10 per cent are in Rs 5-8 lakh and remaining 60 per cent are above Rs 8 lakh.

Earlier talking to industry representatives on the DTC Bill, Mitra said that so far the department has received 1,600 comments from stakeholders on the draft bill which was put on the public domain last year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting