Government to adhere to FY16 fiscal deficit target: StanChart

Last Updated: Tuesday, September 8, 2015, 13:51

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

Last Updated: Saturday, July 11, 2015, 10:58

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

Last Updated: Thursday, July 9, 2015, 19:04

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

Last Updated: Tuesday, June 16, 2015, 22:56

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.

Government asks top taxmen to ideate for widening tax base

Last Updated: Sunday, June 14, 2015, 13:08

The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year 2015-16.

Indirect tax collection up 39.2%; excise reflects manufacturing uptick

Last Updated: Wednesday, June 10, 2015, 21:32

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

Last Updated: Monday, June 8, 2015, 13:31

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'.

Service Tax: Penalty norms encouraging voluntary compliance

Last Updated: Wednesday, June 3, 2015, 18:29

In case of voluntary payments along with interest, reduced penalty have been provided depending upon the stage of litigation i.e. Prior to issuance of show cause notice, after issuance of show cause notice but before adjudication or after adjudication.

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

Last Updated: Monday, May 25, 2015, 18:35

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.

Government misses tax collection target by Rs 2,288 cr in FY15

Last Updated: Sunday, May 17, 2015, 18:17

Government has missed the overall revised tax collection target for both direct and indirect taxes by Rs 2,288 cr.

Indirect tax collections up 46.2% in April

Last Updated: Tuesday, May 12, 2015, 20:31

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.