« 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 «  UP introduces Value Added Tax... Donations can keep taxman away... » Direct taxes up 40%, FM non-committal on tax moderation January, 02nd 2008 Finance Minister P Chidambaram today parried questions on moderating taxes in the next budget even as direct tax collections this fiscal are set to cross Rs 300,000 crore, a 12 per cent jump over budget estimates. "Let me recall what I said. If voluntary compliance (in taxes) increases there is a case for moderation. That does not mean the case has been accepted. You make a case for moderation instead of writing imaginary stories," Chidambaram told a press conference. He was replying to a question on his earlier statement that there was a case for moderation of taxes if voluntary compliance raised tax collection. During April-December period, direct tax collections after paying refunds crossed Rs 2,05,000 crore. registering a growth of 42.36 per cent. For the first time, direct tax collections would surpass indirect tax collections, Chidambaram said. Corporate tax collections grew 39.84 per cent to Rs 1,27,683 crore, while personal income tax, including security transaction tax, fringe benefit tax and banking cash transaction tax, grew by 50.06 per cent to Rs 77,380 crore. Chidambaram also announced setting up a Directorate of Human Resources for direct tax department aimed at restructuring of department for enhancing voluntary tax compliance.