The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net of refunds, stands at Rs. 2.24 lakh crore which is 17.5% higher than the net collections for the corresponding period of the last year. This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18.
So far as the Growth Rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of Gross Revenue Collections is concerned, the Growth Rate for CIT is 5.0% while that for PIT (including STT) is 16.0%. However, after adjusting for refunds, the net growth in CIT collections is 18.1% while that in PIT collections is 16.5%. Refunds amounting to Rs. 74,089 crore have been issued during April, 2017 to August, 2017 which are 7.2% lower than the refunds issued during the corresponding period of Financial Year 2016-17.
Addition u/s 68 deleted as AO failed to find any discrepancy in details of creditors submitted by the assessee In…
Jharkhand Rajya Gramin Bank - Empanelment of retired officers of banks as Concurrent auditors on contract basis Jharkhand Rajya Gramin…
Book Profit u/s 115JB to be computed as per Profit & Loss Account prepared under Schedule III of the Companies…
Order not in conformity of Faceless Assessment Scheme 2019 if not est? - ITAT remands the case in view of…
Extension of the validity of FCRA registration certificates till 30.09.2024 Home Ministry has decided to extend the validity of FCRA…
Provisions of section 68 to 69B applicable only if assessee is required to maintain books of accounts under provisions of…