Income Tax : For the first time since Independence, personal income tax collections have surpassed corporate tax. The shift reflects formalisat...
Income Tax : Explaining the necessity of income tax for funding national defence, infrastructure, and welfare in India. Discusses the lack of a...
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 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 : While gross collections rose modestly, higher corporate tax inflows boosted net direct tax collections. The figures underline the ...
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...
An analysis of India’s latest tax report card throws up some new leaders in terms of growth rates. Lucknow has emerged ahead of past leaders like Guwahati and Bhopal as the region with the highest all India growth rate. Kolkata is the most impressive
Net direct tax collections in the first seven months of the current fiscal crossed the mark of rupees two trillion and stood at Rs. 2,04,351 crore as on 31st October 2010 (April-October, 2010). This is up from Rs. 1,73,447 crore collected during the
The finance ministry expects to overshoot its indirect tax collection target by Rs 15,000 crore. For 2010-11, the government had set an indirect tax collection target of Rs 315,000 crore. “We may exceed our original target…It (indirect tax mop-up) co
Customs, Central Excise and Service Tax revenue collections rose to Rs. 150686/- Crore during April-September 2010. Thus there is an increase of 44.4 percent in revenue collections at all India level during April-September 2010 as compared to corresp
The stagnancy in service tax payment by the country’s top mobile firms in the first five months of the fiscal is worrying the government. The reason being that while in the last two quarters profitability of the major operators have dipped and revenu
Indirect tax collections from Customs, Central Excise and Service Tax at all India level has increased more than 45% during April-August, 2010 compared to its corresponding period, i.e. April- August, 2009. Total Revenue Collections were Rs. 124170
The amount of excise duty collected from chewing tobacco Including Kara Masala, Kimam etc. during 2008-09 and 2009-10 is Rs. 916.63 crore and Rs. 1062.05 crore respectively. The excise duty collections from other tobacco varieties and products like cigarettes, bidis, cigars for the years 2008-09 and 2009-10 is Rs. 9798.75 crore and Rs. 10045.35 crore respectively.
Indirect tax collections grew by a whopping 43% in the first three months of the current fiscal, providing further testimony to a recovery in industrial activity that prompted International Monetary Fund (IMF) to raise its 2010 growth estimate for the country.
The Income Tax (I-T) department is targeting a tax collection of Rs 3,379 crore during the 2010-11 financial year in Lucknow, which covers the Uttar Pradesh (East) districts. During 2009-10, the department made net tax collection of Rs 2,888 compared with Rs 2,614 during the previous year.
Finance Minister Shri Pranab Mukherjee has asked Indian Revenue Service officials to consider tax payers as important stakeholders in nation building and to administer taxes with a human approach. He was addressing the 63rd batch of IRS trainees last evening.
