Income Tax : The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society...
Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...
Income Tax : For the first time since Independence, personal income tax collections have surpassed corporate tax. The shift reflects formalisat...
Income Tax : 1. Tax collection at source (TCS) is an additional amount collected as tax by a seller of specified goods from the buyer at the ti...
Income Tax : As per Section 206C of Income Tax Act, 1961 (1) Every person, being a seller shall, at the time of debiting of the amount payable ...
Goods and Services Tax : Haryana recorded the highest State GST revenue growth of 32% during the first quarter of FY 2026-27, outperforming all other state...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : Net direct tax collections for FY 2025–26 grew by 7.19%, primarily supported by a decline in refunds. Lower refund outflows impr...
Income Tax : Net direct tax collections grew 9.40% as of 10 February 2026 compared to last year. Lower refunds and steady corporate and non-cor...
Income Tax : Net direct tax collections recorded an 8.82% increase despite moderate gross growth. Lower refunds played a key role in boosting n...
Income Tax : This Court finds that when the petitioner had agreed to comply with the payment of disputed tax at the rate of Rs. 50 lakhs per mo...
Goods and Services Tax : The gross GST revenue collected in the month of August, 2020 is ₹ 86,449 crore of which CGST is ₹ 15,906 crore, SGST is ₹ 21...
Income Tax : The Budget target for each cadre-controlling Pr. CCIT has been fixed keeping in view the revenue potential of the Region, which is...
Income Tax : I am directed to refer to Board's letter dated 24th May, 2019 regarding Region-wise allocation of revised Budget Estimates(BE) of ...
Income Tax : On review of the progress of TDS collections it is noted that as on 31.08.2017, an amount of Rs. 1,65,114 crore has been collected...
Income Tax : Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for re...
The indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17are at Rs 63 lakh crore, which is 22.0% higher than the actual revenue receipts in FY 2015-16. Till March 2017, about 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved.
The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to February 2017 show that net revenue collections are at Rs 7.72 lakh crore, which is 22.2% more than the net collections for the corresponding period last year.
Direct tax collections up to February, 2017 continues to show a steady growth trend. The collection net of refunds stands at Rs. 6.17 lakh crore which is 10.7 % more than the net collections for the corresponding period last year.
During January 2017, the net indirect tax grew at the rate of 9% compared to corresponding month last year. The growth rate in net collection for Customs, Central Excise and Service Tax was 10.1%, 26.3% and 9.4% respectively during the month of January 2017, compared to the corresponding month last year.
Direct tax collections up to January 2017 show a consistent growth trend. The collection net of refunds stands at Rs. 5.82 lakh crore which is 10.79% more than the net collections for the corresponding period last year
The figures for Direct Tax collections up to December, 2016 show that revenue net of refunds is Rs. 5.53 lakh crore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for Financial Year 20 16-17.
Tax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015 Direct Tax and Indirect tax collection figures for the period April 2016 to December 2016 have shown a positive trend as […]
Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for recovery of demand raised.
Direct Tax Collections up to November, 2016 show net collections at Rs. 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year;
Direct tax collections up to October, 2016 show that net collections are at Rs.3.77 lakh crore which is 10.6% more than the net collections for the corresponding period last year.
