« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Budget 2008: Hopes and fears... Law on advance ruling is futile... » Direct tax mop-up in Ludhiana declines, Haryana shows rise January, 28th 2008 If the industrial hub of a progressive state registers a negative growth rate in the collection of direct taxes, it explains the economic health of the state.   The Ludhiana circle of Punjab (which includes Ludhiana, Jalandhar, Hoshiarpur and Moga) registered a decline of 4.52 percentage points in the direct tax (excluding TDS) collection from April-December 2007.   At the same time there was an increase of 118.60 percentage point in the direct tax collection in Faridabad and Gurgaon, the industrial towns of Haryana.   The corporate tax collection in the Ludhiana circle slashed from Rs 276.48 crore to Rs 204.09 crore during this period. Haryana did exceedingly well with Rs 989.96 crore from April-December 2007 as compared with Rs 394.86 crore in the same period last year.   The statistics explain the ailing health of Punjabs economy. In the past few years, some of the major industrial houses of the state like Abhishek Industries, Saluja Group, Oswal Group and Sportking expanded in other parts of India and hence no major new investment in the crowded city of Ludhiana was made. Erratic power supply was one of the reason that diverted many investments to the hilly states which also provided tax benefits.   The rupee appreciation in the past one year has also squeezed the margins of most of the export-oriented small and medium enterprises (SMEs) in the region.   In the past three years Punjab witnessed investments only in the field of real estate and retail where as agriculture and manufacturing remained sluggish.   In comparison, the growth in Haryana was driven by the expansion of the information technology, automobile ancillaries and retail sectors.