« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  New tax code to stop treaty shopping... Panel suggests tax on solid waste management services... » Indian Govt Initiates Steps to Meet Tax Collection Targets December, 20th 2008 Indian Government has taken various steps including close monitoring of advance tax payments of top tax-payers and collection of arrears from defaulters to meet the targets of direct and indirect taxes during the year. In case of direct taxes (corporate and personal income tax), the government had estimated receipt of Rs 3650 billion during 2008-09 and net collection till November this year stood at Rs 1772.51 billion. In a written reply in Indias Lower House of Parliament (Lok Sabha), Minister of State for Finance S S Palanimanickam said the government has initiated many steps to facilitate achievement of the collection targets during the remaining period of the current fiscal. Government is also planning to strengthen the tax deduction at source/tax collection at source set-up by creating 13 Commissioner-level posts and conducting effective surveys to unearth non-payment of TDS/TCS on direct tax slide. Of the indirect tax collection estimates of Rs 3200 billion (customs duties, central excise duty and service tax), the government has collected Rs 1625.35 billion during April-October, according to provisional figures. Government is emphasizing on voluntary tax-compliance through better taxpayers service and multi-media campaign to encourage voluntary compliance of tax laws. Palanimanickam said the government was developing a scientific system of scrutiny of returns filed by tax payers to detect any short payment of tax or duty. (PTI)