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Direct Tax Collection News
Direct Tax Collection
Direct tax collections: Did demonetisation, GST slow personal income tax growth?
Tue, Sep 12, 2017
Four months into this fiscal year and the direct tax collections may have increased but the percentage of personal income tax growth was less than half of the year ago period.
Income Tax Returns filed rise 25%, advance tax collection up 41%
Mon, Aug 07, 2017
Central Board of Direct Taxes (CBDT) said, "As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year."
Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore
Thu, Jul 06, 2017
Key Highlights: Direct tax collections rose 14.8%, at Rs 1.42 lakh crore Personal income tax rose 12.9% before refunds
Mumbai's income tax zone misses revenue target of Rs 2.79 trillion in FY17
Mon, Apr 10, 2017
The Income Tax Department of Mumbai has missed the revenue mop-up target of Rs 2.79 trillion for the financial year 2016-17 on account of more refunds given to tax payers.
India's FY17 tax collection reaches Rs 17.10 lakh crore
Tue, Apr 04, 2017
The ministry said, "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."
Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%
Fri, Mar 10, 2017
The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.
GDP growth for FY18 projected at 6.75-7.5% post demonetisation: Economic Survey 2017
Tue, Jan 31, 2017
The cash squeeze in the meantime will have significant implications for GDP, reducing 2016-17 growth by ¼ to ½ percentage points compared to the baseline of 7%, the Economic Survey said.
Budget to make sweeping recast of direct taxes: SBI Research
Mon, Jan 23, 2017
Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
Direct, indirect tax collection rose 12%, 25%, respectively: Finance Minister Arun Jaitley claims
Mon, Jan 09, 2017
Jaitley also said that Centre is in talks with banks to discuss Merchant Discount Rate (MDR) issue.
Tax collection to exceed budget estimates this fiscal: Arun Jaitley
Wed, Jan 04, 2017
Finance Minister Arun Jaitley on Wednesday expressed confidence that direct and indirect tax mop-up will surpass Budget estimate of Rs 16.3 lakh crore by March-end.
Direct tax collections surge 24% till July 2016
Tue, Aug 09, 2016
Direct tax collections amounted to Rs 1.59 lakh crore up to July 2016. Net collections of direct taxes is 24.01% up till July 2016.
Direct tax collection up nearly 25% in April-June of FY17
Fri, Jul 08, 2016
The figures for direct tax collection up to June, 2016 indicates net revenue collection of Rs 1.24 lakh crore which is a growth of 24.79% over the corresponding period last year.