News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Direct Tax »
 ITR filing: Prefilled ITRs now available for all individuals
 How to arrange for tax money if you don’t have adequate funds Income Tax Return 2019
 Nature of income can determine rate of TDS charged
 Section 194A – TDS on interest other than interest on securities
 File Income Tax return before last date and avoid these consequences ITR filing
 Claiming tax refund in your ITR? Don't forget to pre-validate your bank account
 Section 193 – TDS on Interest on Securities
 If you miss to file return by due date, you will be penalised, even get jailed
 Don’t blindly rely on pre-filled ITR Form; correct discrepancies, if any before submission
  Notification No. 52/2019 Central Board Of Direct Taxes
 I-T Department cautions employees on Form 16

CBDT accomplishes direct taxes collection target for FY 2016-17
April, 06th 2017

The total tax revenue target of the revised estimates for 2016-17 for both direct and indirect taxes was Rs 16.97 lakh crore, of which Rs 8.47 lakh crore was for direct tax and Rs 8.5 lakh crore from indirect tax.

The total tax revenue target of the revised estimates for 2016-17 for both direct and indirect taxes was Rs 16.97 lakh crore, of which Rs 8.47 lakh crore was for direct tax and Rs 8.5 lakh crore from indirect tax. It may be recalled that the revised estimate figures of 2016-17 were Rs 16.97 lakh crore compared to the Budget Estimates figures of Rs 16.25 lakh crore in 2016-17. As against the revised estimate, the provisional figure of tax collection is Rs 17.10 lakh crore, which is a growth of around 18% compared to last year.

Direct Taxes

The provisional figures for direct tax collections up to March 2017 show that net collections are at Rs 8.47 lakh crore, which is 14.2% more than the net collections for the corresponding period last year. This is a major increase compared to the growth rate of the previous FY. Net direct tax collections stand at Rs 8.47 lakh crore, which shows 100% achievement for FY 2016-17.
You may also watch:

5 Ways To Save Tax Without Investing

As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 13.1% while that under PIT (including STT) is 18.4%. However, after adjusting for refunds, the net growth in CIT collections is 6.7% while that in PIT collections is 21.0%. Refunds amounting to Rs 1.62 lakh crore have been issued during April 2016-March 2017, which is 32.6% higher than the refunds issued during FY 2015-16.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions