Indirect tax mop-up paces up, grows 36% during Apr-Oct 2015

In October 2015, indirect tax revenue collections rose 36.8 percent from a year ago.

Govt will have to forget direct tax of Rs 6.73 lakh crore

A paper presented during the recently held All India Conference of Chief Income Tax Commissioners stated that the department might recover 19% of Rs 8 lakh crore. But there's a rider: even this is going to be a 'tough task'.

Higher tax collections to help improve fiscal deficit: Jaitley

Finance Minister Arun Jaitley on Monday said direct tax collections for the current financial year were likely to increase by 14-15 percent, enabling the government to improve upon its fiscal deficit target of 3.9 percent.

Tax dues from companies at Rs 4.85 lakh crore: Finance Ministry

Corporates owed over Rs 4.85 lakh crore approximately to the exchequer as outstanding tax demands, under direct and indirect taxes, towards the end of fiscal 2014-15, Parliament was informed on Tuesday .

Direct tax collections up 11.38% in Apr-Jan FY'15

Direct tax collections increased by 11.38 percent to Rs 5.78 lakh crore during the April-January period of current financial year.

Direct tax collections up 13% in 9 months of FY'15

The direct tax collection during the first nine months of the current fiscal increased by 12.93 percent to Rs 5.46 lakh crore over the same period a year ago.

Idea of higher tax to run state is 'anti-people': FM

Asserting that government does not subscribe to the ideology of imposing higher taxes to run the state, Finance Minister Arun Jaitley on Friday termed such an idea as "anti-people".

CBDT to hold high-level tax collection meeting next week

The next week's meeting will be chaired by CBDT Chairperson Anita Kapur along with the five members.

Outstanding tax demand up at Rs 5.75 lakh cr in FY'14

The outstanding direct tax demand increased to Rs 5.75 lakh crore in 2013-14, up 18.33 percent over the previous fiscal, the government said Tuesday.

Net direct tax collection up 7% at Rs 2.68 lakh cr

Net direct tax collection has risen only 7.09 percent to Rs 2,68,836 crore in the first six months of the current fiscal.

I-T department to tighten noose around corporate bosses

Expenses incurred on luxury cars, property purchase, coaching centres, earnings on fixed deposits will be closely watched by the I-T department.

Indirect tax collections up 4.6% in April-June

The indirect tax collection target for 2014-15 fiscal stands at Rs 6.24 lakh crore.

'Achieving Rs 6.24 lakh cr in indirect taxes a challenge'

It is a challenge to achieve the budget target of Rs 6.24 lakh crore in indirect taxes in the current financial year, a senior finance ministry official said Monday.

Jaitley to meet state FMs on GST next month

Keen to fast track Goods and Services Tax (GST), Finance Minister Arun Jaitley on Thursday reviewed the progress with regard to the rollout of the new indirect tax regime and decided to hold an early meeting with the state Finance Ministers to sort out pending issues.

CBDT ask officials to ensure M&As do not defraud revenue

As per the procedure, M&As are required to be vetted by the high court concerned.

Hopeful of achieving direct tax collection target of FY14: CBDT

Pinning hopes on last minute rush of payment of taxes by corporate and individuals, the government is hopeful of achieving revised direct tax collection target of Rs 6.36 lakh crore for this fiscal.

73% of direct tax target collected till February

With over 73 percent of its revenue target collected by February, the Income Tax department is hopeful of achieving a full kitty of direct tax collection of Rs 6.36 lakh crore by the end of this financial year on March 31.

Direct tax collection up 11.58% in Apr-Oct at Rs 3.37 lakh cr

Amid slowing economy, the gross direct tax collection has risen only by 11.58 percent to Rs 3.37 lakh crore during the April-October period of 2013-14 fiscal.

Direct tax collection rises by 10.66%

Gross collection from direct taxes that include personal income tax and corporate taxes, increased by 10.66 percent to Rs.3,01,250 crore in April-September period of this year as compared to Rs.2,72,221 crore recorded in the same period last year, government data showed Tuesday.

Net direct tax realisation up 12.5% to Rs 2.38 lakh crore

Net direct tax collection rose 12.5 percent to Rs 2.38 lakh crore in first six months of the ongoing fiscal mainly on account of growth in personal income tax collection.