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direct and indirect taxes

Union Budget 2014-15: Tax Proposals

Union Budget 2014-15: Tax Proposals

Recommended for : Tax Proposals , Indirect taxes , Direct taxes , service tax

Net direct tax collections increased by 12.5 percent for the current financial year

Net direct tax collections increased by 12.5 percent for the current financial year

Recommended for : Net direct tax , September 2013 , direct tax , Indirect Tax , Taxation system

Union Government achieved FY13 Revised Tax Collection Target

Union government in the Month of March 2013 announced that it has met its revised tax collection target for 2012-13.

Recommended for : Union Government , FY13 Revised Tax Collection , Direct tax , Indirect tax

Union Budget 2012-13: Tax Proposals

Economy Current Affairs 2012. The tax proposals in the Union budget 2012-13 were guided by the need to move towards the Direct Tax Code(DTC) in the case of direct taxes and Goods & Services Tax (GST) in the case of indirect taxes

Recommended for : Union Budget 2012-13 , Annual Budget 2012-13 , Budget 2012-13 , Tax Proposals in Budget 2012-13

वित्त वर्ष 2010-11 में प्रत्यक्ष कर और अप्रत्यक्ष कर की वसूली 792000 हजार करोड़ रुपए पहुंची

Economy Current Affairs 2011. वित्त वर्ष 2010-11 में प्रत्यक्ष कर और अप्रत्यक्ष कर की वसूली संशोधित अनुमानों से अधिक हुई.

Recommended for : The actual direct and indirect tax collection , Finance Ministry , प्रत्यक्ष कर और अप्रत्यक्ष कर की वसूली 792000 हजार करोड़ रुपए पहुंची

India’s Central Tax Collection reached Rs 7.92 lakh crore in 2010-11 exceeding Revised Estimates

Economy Current Affairs 2011. India’s central tax collection including both direct and indirect taxes reached about Rs 7.92 lakh crore in 2010-11

Recommended for : current affairs April 2011 , India’s central tax collection for 2010-11 , India’s GDP , income tax department paid Rs 72000 crore in refunds , direct and indirect taxes , government to fund development projects

Finance Ministry Raised Direct Tax Collection Target

Indian Ministry of Finance raised the direct tax collection target for financial year  2011 by Rs 20000 crore.

Recommended for : Finance Ministry , direct tax , indirect tax , corporate tax , income tax , Current Affairs January 2011

Taxation in India: An Overview

India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies some direct and indirect taxes on individual and commodities respectively. Direct taxes are, Personal Income Tax, Wealth Tax, and Corporation Tax while indirect tax includes; Sales Tax, Excise Duty, Custom Duty and Service Tax. Currently corporation tax (20% of total tax collection) is the biggest source of income of central government.

Recommended for : Taxation in India , Personal Income Tax , Wealth Tax , and Corporation Tax , indirect tax , Sales Tax , Excise Duty , Custom Duty and Service Tax , direct tax , Taxation System in India , types of taxes in India

REVENUE

The Department of Revenue exercises control in respect of revenue matters relating to direct and indirect Union taxes through two statutory boards, namely, Central Board of Direct Taxes and the Central Board of Excise and Customs. This Department is also entrusted with the administration and enforcement of controls and regulatory measures provided in the enactments concerning Central sales tax, stamp duties, gold control, foreign exchange and other relevant fiscal statutes.

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