Booming revenue - beaming FM
Unlike, the stock market, the Central tax revenue is on a continuous rise. Net Direct Taxes collected up top 15th October 2007, stood at a whopping 1.22 Lakh Crores! Even the insignificant looking Banking Cash Transaction Tax fetched 284 Crores while the FBT brought in 2326 Crores!
Legal Corner Icon — the image was hosted by the publisher and was not captured.The Government believes that growth of over 49 percent in direct taxes deducted / collected at source is a strong indicator of increasing employment, employee compensation and private investments; while growth of about 30 percent in advance direct tax collections is indicative of better profitability and improved cash-flows in businesses - particularly in the core, consumption and financial sectors. Increase of 64 percent in self-assessment tax confirms the trend of better tax compliance.