Latest Breaking News On - Security transaction tax - Page 9 : comparemela.com
Direct tax collections surge in 2021-22
thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Net direct tax mop up doubles Rs 1 85 lakh crore collections fiscal year latest news
indiatvnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatvnews.com Daily Mail and Mail on Sunday newspapers.
The misconceived trends
Government of India while preparing the budget 2020-21 (FY-21), expected that the gross tax revenue (GTR) will grow by 12 per cent while the direct tax was estimated to grow by 12.7 per cent and the indirect tax as a whole was expected to grow by 11.1 per cent.
INDIA S REVENUE RECEIPT (FY-21)
Udayan Hazarika
(The writer can be reached at udayanhazarika@hotmail.com)
Government of India while preparing the budget 2020-21 (FY-21), expected that the gross tax revenue (GTR) will grow by 12 per cent while the direct tax was estimated to grow by 12.7 per cent and the indirect tax as a whole was expected to grow by 11.1 per cent. But later the estimates were revised downward (with growth of only 5.46 per cent in case of GTR over the previous year) due to the prevailing pandemic conditions. Now the Government have come up with some preliminary revenue collection statistics highlighting their exceptional performances in connection with the collection of revenues
Direct tax collections in FY21 up 5 pc at Rs 9.45 lakh crore
NEW DELHI: Provisional figures of direct tax collections for 2020-21 show that net collections are at Rs 9.45 lakh crore, the government said on Friday.
The net direct tax collections include Corporation Tax (CIT) at Rs 4.57 lakh crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 4.88 lakh crore.
The net direct tax collections represent 104.46 per cent of the revised estimates of Rs 9.05 lakh crore of direct taxes for FY 2020-21,” said an official statement released by the Ministry of Finance.
The gross collection of direct taxes (before adjusting for refunds) for FY 2020-21 stands at Rs 12.06 lakh crore.
The provisional figures of Direct Tax collections for the Financial Year 2020-21 show that net collections are at Rs. 9.45 lakh crore. The net Direct Tax collections include Corporation Tax (CIT) at Rs. 4.57 lakh crore and Personal Income Tax(PIT) including Security Transaction Tax(STT) at Rs. 4.88 lakh crore. The net Direct Tax collections represent 104.46% of the Revised Estimates of Rs. 9.05 lakh crore of Direct Taxes for the F.Y. 2020-21.
The Gross collection of Direct Taxes(before adjusting for refunds) for the F.Y. 2020-21 stands at Rs. 12.06 lakh crore. This includes Corporation Tax(CIT) at Rs. 6.31 lakh crore and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 5.75 lakh crore; Advance Tax of Rs. 4.95 lakh crore; Tax Deducted at Source (including Central TDS) of Rs. 5.45 lakh crore; Self-Assessment Tax of Rs. 1.07 lakh crore; Regular Assessment Tax of Rs. 42,372 crore; Dividend Distribution Tax of Rs. 13,237 crore and Tax under other minor heads of Rs
vimarsana © 2020. All Rights Reserved.