Page 4 - Direct Tax Collection

Advance tax mop-up posts dismal growth, rises by just 6% in H1FY20

Direct tax collection needs to grow by about 27% from here on to meet FY20 Budget target

Direct Tax Code may help bring change in mindset of taxpayers, authorities

The Direct Tax Code may help initiate the much-needed change in the mindset of taxpayers and authorities, say experts

Direct tax collection may fall short of Rs 50,000 cr in FY'19: Official

The shortfall in direct tax mop-up coupled with lower GST realisation may have implications on fiscal deficit.

CBDT raises alarm as direct tax collection stands at Rs 10.21 trillion

Asks for urgent action, especially with respect to recovery of arrears and current demand, to achieve the collection target

Confident of meeting direct tax mop-up target, says new CBDT chief

The CBDT is working on a mechanism in line with other nations where people are not afraid of filing tax

Direct tax collection during April-January stands at Rs 7.89 trn: Govt

Total direct tax collection in 2017-18 stood at Rs 10.02 trillion

FY20 direct tax collection growth target of 15% realistic: Revenue secy

Interim Budget 2019 has estimated to collect Rs 13.80 trn from direct taxes, compared to Rs 12 trn in the current fiscal

CBDT chief cautions I-T officials about direct tax collection growth rate

Says low mop-up may affect the Budget estimate of Rs 11.5 trillion for the current financial year

Gross direct tax collection up 16.7% to Rs 5.47 trillion in April-September

With record income tax refunds crossing Rs 1 trn in the April-Sept period, the net collections stood at Rs 4.44 trn, 14 per cent higher than the previous year

Direct tax collection grows 19.3% to Rs 6.95 trn in Apr-Jan 2017-18

The net collections for Corporate Income Tax showed a growth of 19.2% and for Personal Income Tax at 18.6%

FY18 direct tax collection rises 19% owing to lower refunds, demonetisation

This could be attributed to lower refunds, to the tune of Rs 1.22 trillion, against Rs 1.34 trillion at this time a year before

FY18 direct tax collection during Apr 1-Jan 15 rises 19% to Rs 6.89 trn

Refunds amounting to Rs 1.22 trillion have been issued during this period

Confident to go past direct tax collection target of Rs 9.80 lakh: CBDT

The advance tax of the individual assessees rose by 30 per cent, which is quite heartening for the department, CBDT Chairman Sushil Chandra said

Direct tax collection rises 15% to Rs 4.39 lakh cr in Apr-Oct

Refunds amounting to Rs 89,507 crore were issued during the seven month period

Direct tax collection falls in Aug

Personal income tax more than halved to Rs 15,392 crore, from Rs 32,631 crore in July

Mumbai zone direct tax collection flat in H1 FY17

Income tax mop-up from the metropolis remained flat during the first half of this fiscal at Rs 98,683 crore, primarily due to poor show by banking and pharma sectors as well as higher refunds. Income tax mop-up had stood at Rs 97,499 crore in the year-ago period. At the national level, the direct tax kitty swelled by close to 9 per cent to Rs 3.27 trillion during the first six months of the current financial year. While the total refunds jumped by 27 per cent nationally to Rs 86,491 crore, the Mumbai zone saw refunds of Rs 36,690 crore, from Rs 28,395 crore a year ago, indicating a growth of 29.2 per cent. The tepid collection from the megapolis, which saw only 1.21 per cent growth, was due to the fact that the Mumbai zone, which accounts for 35 per cent of the overall direct tax collection, saw huge refunds, according to tax department officials. The Income Tax Department now has to make refunds to assessees within three months of an order issued by authorities like a court or ..