Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 Notification No. 10/2021 CENTRAL BOARD OF DIRECT TAXES
 ITR not processed yet? Make sure you check and resolve your Tax Credit mismatch, urges Income Tax Dept
 The PF will be taxable at your marginal rate of tax
 ITR Filing Deadline: Here's how much fine you will have to pay for missing tax return due date
 Missed ITR verification deadline? Check how to file condonation of delay request after 120 days
 Directions under Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Deccan Urban Co-operative Bank Ltd., Vijayapur
 How to save Income Tax? Top tips, options Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more
 Failed to submit investment proofs? You can still save taxes ITR filing
 Income Tax Dept. reminds due date for filing ITR require to be Audited for AY 2020-21
 Notification No.14/2021 CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
 Will last date for ITR Filing be extended again? Know what CBDT said ITR filing FY 2019-20

CBDT has high expectations from the services sector
September, 28th 2010

The Central Board of Direct Taxes (CBDT) has high expectations from the services sector. It expects the sector to drive greater growth in advance tax collections in the October-December quarter. However as reports, underperforming sectors could pose an obstacle.

Balanced tax collection from India Inc will be crucial if the CBDT has to meet its annual collection target of Rs 4.30 lakh crore. The worry is that some of the traditionally strong contributors to tax revenues have been underperforming of late.

Shankar said, These are the two major contributants who contribute to whether we meet our targets or don't meet our targets. Banking, especially State Bank of India and other PSU banks. Oil is a very major contributor and I am really hoping that they will pull up their socks.

The board is also optimistic of an improved performance from the Mumbai circle. Remember, collections from this circle had dropped below the national average recently, drawing comment from the Finance Minister.

Shankar added, The current years collections will see an enhancement of revenues generated from Mumbai charge of 18% over last year. If that is so, I will be very happy.

The board is also betting on a strong showing from the tertiary sector to keep the ball rolling.

I especially have high expectations from the service sectorso lets seeI am hoping that the December installment will see a greater growth across the spectrum, Shankar said.

And if all goes as per plan, these higher revenues should help the Finance Minister boast of a significant decline in fiscal deficit when he presents his budget in February.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2021 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting