Net direct tax collections up by 41 pc Net direct tax collections up by 41 pc Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

« Top Headlines »

Open DEMAT Account in 24 hrs
How to check income tax return (ITR) status
Income tax rules: How much cash can you receive in one day to avoid an I-T notice?
Tax saving tips: How you can reduce tax burden under the new regime
Condonation of delay under section 119(20) of the Income-tax Act, 1961 in filing of Form No. 9A/10/108/10BB for Assessment Year 2018-19 and subsequent assessment years
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC or Form No. 10-ID for Assessment Years 2020-21, 2021-22 and 2022-23
New GST form notified to help taxpayers adjust tax demand amount: Here's how to use
ITR filing deadline extended to November 15, 2024 for these taxpayers


« ICFAI welcomes foreign varsities...	No TDS on sale deals, says CBDT... »
Net direct tax collections up by 41 pc

December, 19th 2006
The Centre's net direct tax collections have surged by 41.55 per cent in April 1-December 15 period to Rs 1,09,000 crore as compared to Rs 77,000 crore collected in the same period last year. This represents about 52 per cent of the budget estimate of Rs 2,10,684 crore for direct taxes in 2006-07. In fiscal 2005-06, the Centre's direct tax collections stood at Rs 1,65,208 crore. The direct tax collections in 2004-05 stood at Rs 1,32,771 crore. Important instalment Meanwhile, an official spokesperson of the Central Board of Direct Taxes (CBDT) said that the collections of Rs 1,09,000 crore do not include the December 15 instalment of advance tax, which is an important instalment for the tax department. The officials said that advance tax collections for December 15 instalment have not been fully compiled by the department and other agencies, and clear picture is expected to emerge by December 25. Corporates are expected to pay 75 per cent of their estimated tax dues for the financial year as advance tax by December 15.