Government to adhere to FY16 fiscal deficit target: StanChart

Sluggish direct tax collection, likely shortfall in disinvestment proceeds and OROP scheme pay out will add to the government's fiscal burden but it will "adhere to" fiscal deficit target by reducing expenditure, says a Standard Chartered report.

Indirect tax collections pace up, grow 37.5% in April-June
Indirect tax collections pace up, grow 37.5% in April-June

IIP data showed that the growth in factory output in the first two months of the fiscal was 3 percent as against 4.6 percent in April-May of 2014-15.

I-T Dept eyes Rs 2.56 lakh crore tax mop up from Mumbai in FY16
I-T Dept eyes Rs 2.56 lakh crore tax mop up from Mumbai in FY16

The Income Tax department is looking at collecting tax worth Rs 2,56,000 crore from the Mumbai zone during this fiscal, which is 13 percent more than the amount mopped up last year.

38% increase in tax collection in last 3 months: Kejriwal
38% increase in tax collection in last 3 months: Kejriwal

Delhi Chief Minister Arvind Kejriwal on Tuesday said his government has seen a 38 percent increase in tax collection in the last three months, claiming that the earnings were even more than the Rs 1,700 crore subsidy for electricity and water.

Indirect tax collection up 39.2%; excise reflects manufacturing uptick

Indirect tax collection has jumped 39.2 percent in April-May, with excise showing a smart rise reflecting pick up in manufacturing, Finance Minister Arun Jaitley said Wednesday.

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'.

Direct Tax target of Rs 7.98 lakh cr for FY'16 achievable: Das

The Direct Tax collection target of Rs 7.98 lakh crore for the current financial year is likely to be met on account of improvement in economic growth, government said on Monday.

Indirect tax collections up 46.2% in April

Led by over two-fold surge in excise duty collections, indirect tax revenue jumped 46.2 percent to Rs 47,747 crore in April this year compared to the same month last year.

CBEC credits 'exemplary zeal' of officers for exceeding tax target

The "unwavering commitment and exemplary zeal" shown by its officers has seen CBEC surpassing its indirect tax collection target by a handsome margin of Rs 4,000 crore to reach Rs 5.46-lakh crore in the just-concluded 2014-15 fiscal.

Indirect tax collection exceeds target by Rs 4,000 cr in FY15

The total collection as on March 31 is Rs 5,46,479 crore, based on the provisional report as against revised estimates of Rs 5,42,325 crore for 2014-15, an official statement said.

CBDT makes public names of 18 tax defaulters who owe Rs 500 crore

Adopting an aggressive approach to increase tax collection, the revenue department for the first time publically named 18 tax defaulters - including Goldsukh Trade and Somani Cements - who owe over Rs 500 crore to the exchequer.

Tax collection: CBDT to hold high-level meeting Tuesday

The CBDT will hold a country-wide meeting with top Income Tax department officers Tuesday to review the tax collection work which is scheduled to end on March 31.

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.

No unfair effort will be made by govt to collect taxes: FM

Ahead of the Budget, Finance Minister Arun Jaitley on Friday hinted at more spending cuts and rationalising expenditure.

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.

Govt meets 60.6% indirect tax collection target during April-December

Government today said it has collected Rs 3.77 lakh crore, or 60.6 percent, of budget target for indirect tax by December 2014.

Direct tax collections rise 5.67% during Apr-Nov

The government's direct tax collections during April-November of this fiscal rose 5.67 percent to Rs 3.29 lakh crore over the same period a year ago.

Govt may miss indirect tax collection target in FY'15

Indirect tax collection may fall short of the annual target by an estimated Rs 90,000 crore in the current fiscal, mainly because of subdued industrial activities, a senior finance ministry official has said.

Indirect tax collections up 5.8% in April-September

Indirect tax collections inched up by 5.8 percent in the April-September period of this fiscal.

Govt asks hotels, farm houses to give prior details of events

In an effort to plug loopholes in tax collection system, Delhi Government has directed owners of hotels, banquet halls and farm houses to furnish prior details to it before holding functions like wedding ceremonies and other events at their premises.