Income Tax : Discover why paying taxes is vital for national development. Explore the role of taxes in funding government services, promoting ...
Income Tax : Article discusses about Basic provisions relating to due date of payment of TDS to the credit of Government, Interest for failure ...
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 ...
Income Tax : The existing provision of section 206C of the Act, inter alia, provides that the seller shall collect tax at source at specified r...
Income Tax : Direct tax collections for FY 2024-25, as of July 11, 2024, show a 23.24% increase compared to FY 2023-24, with notable growth in ...
Income Tax : Gross Direct Tax collections for FY 2024-25 grow by 22.19%. Net Direct Tax collections up 20.99%. Advance Tax collections hit Rs. ...
Income Tax : Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e....
Income Tax : Ministry of Finance reveals impressive growth in India's direct tax collections for FY 2023-24, with net collections up by 19.88%,...
Income Tax : Explore how Direct Tax collections achieved 80.23% of the FY 2023-24 revised estimates by February 10, 2024, with a significant ye...
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...
Union Finance Minister Shri Pranab Mukherjee said that the growth in GDP at market prices at 9.7 per cent for 2010-11 reflects buoyancy in our tax collections. Shri Mukherjee was reacting to the Advance Estimates of National Income for 2010-11 releas
Net direct tax collections during the period April 2010 to January 2011 stood at Rs.3,17,501 crore, up from Rs.2,63,765 crore in the same period last fiscal, registering a growth of 20.37 percent. Growth in Corporate Income Tax was 24.78 percent (R
India has the highest number of litigations over transfer pricing, where MNCs have been charged of reducing their tax liability by transferring profits to group companies abroad, a survey has found.
Tax collections during the current fiscal are likely to exceed the budgetary target by about Rs 37,000 crore, at Rs 7.82 lakh crore, in light of robust growth of the economy. “The Budget target of tax revenue has been revised upward to Rs 7.82 lakh
Indirect tax collections registered a growth of 42.8 per cent during April-December, 2010 which is 75.7 per cent of the Budget Estimates for the fiscal 2010-11.crore customs collections increased 68.1 per cent and covered 86.8 per cent of total Budge
Crippled by an acute shortage of Revenue Service officers in crucial posts during the peak income tax collection season, the government has ordered that they be re-deployed. The department, which is racing to meet the budgeted target of Rs. 4.30 lakh crore tax collections in this fiscal, has been ordered by the Central Board of Direct Taxes (CBDT) to immediately rejig the officials at Additional and Joint Commissioners rank level to revenue collection duties and ranges concerned.
Around 100 cooperative sugar mills in Maharashtra have lost one round of a battle on income tax (I-T) arrears dating back to 1992-93, with an appellate authority rejecting their argument on dues. If the decision, by the commissioner of income tax (appeals), is not appealed again, the mills may have to pay Rs 2,500 crore in arrears.
Since no Reserve Fund has been opened in the Public Account of India for the purpose of crediting the 1% Secondary & Higher Education Cess for expenditure towards related schemes/prgorammes, the expenditure provision for Department of School Educatio
Direct tax arrears touched a staggering Rs 2.49 lakh crore last fiscal, and of this, an amount of Rs 1.43 lakh crore is seen to be difficult to recover. The tax arrears are tax demand raised by the revenue department but not realised along with the a
Income-Tax and Customs Departments are facing a nearly 50 per cent staff shortage at the senior levels. This was stated here on Saturday by the Revenue Secretary, Mr Sunil Mitra, on the sidelines of Fostering trade led growth: strategies and prepare
