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English Release 21-November 2014
Date Month Year
  • President's Secretariat
  • Speech by the President of India, Shri Pranab Mukherjee at the First Convocation of National Institute of Technology, Arunachal Pradesh
  • President of India attends the First Convocation of NIT, Arunachal Pradesh
  • Speech by the president of India, Shri Pranab Mukherjee at the president’s standard presentation to 115 helicopter unit and 26 squadron
  • President of India awards Standards to 115 Helicopter Unit and 26 Squadron
  • Vice President's Secretariat
  • COMPREHENSIVE & ADVOCACY OF CIVIL RIGHTS HAS UNDERGONE QUANTITATIVE & QUALITATIVE CHANGES IN PAST FOUR DECADES – VICE PRESIDENT
  • VICE PRESIDENT DELIVERS EIGHTH V.M. TARKUNDE MEMORIAL LECTURE ON ‘CITIZENS AND STATE CONDUCT’
  • Prime Minister's Office
  • PM Invites President Obama to be Chief Guest at Republic Day
  • PM Blogs on his visit to Myanmar, Australia and Fiji
  • Election Commission
  • FACTS AT A GLANCE: Jammu & Kashmir
  • Min of Agriculture
  • Coop Model Best For Employment And Social Equality : Radha Mohan Singh
  • Rabi Area Coverage Shows Improvement
  • Government to Launch Blue Revolution
  • NDDB Sanctioned 42 Dairy Projects for 12 States Worth about Rs. 221 crore
  • Min of Defence
  • Chief of the Air Staff to Visit Indonesia
  • Press Release for Media Interaction by CAS on 21 Nov 2014 President Awards Standards To 115 Helicopter Unit and 26 Son of IAF
  • Press Release for Media Interaction by CAS on 21 Nov 2014
  • Min of Environment and Forests
  • Text of the Speech delivered by Minister for Environment, Forest and Climate Change, Shri Prakash Javadekar at High Level Segment of 26th Meeting of the Montreal Protocol, 20 Nov 201
  • Ministry of Finance
  • Japan’s Official Development Loan Assistance to India for an Amount of YEN 15.620 Billion for the Guwahati Sewerage Project
  • Min of Health and Family Welfare
  • India to host 11th International Inter-Ministerial Conference on Population and Development
  • Min of Home Affairs
  • Panthawada Village selected under SAGY
  • Min of Human Resource Development
  • Consultative Committee Meeting of the Ministry of HRD Held
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  • World Film Posters Exhibition of Krzysztof Kieslowski Opens at 45th IFFI
  • Director of ‘the Gods of Water’ Pablo Cesar Meets Press at 45th IFFI
  • Indian Panorama Jury Meets Media at 45th IFFI
  • Country Focus- China Opens with Screening of ‘Finding Mr. Right’
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  • Min of Mines
  • Mineral Production during September 2014
  • Mines Ministry Seeks Suggestions to Amend Mines & Minerals (Development and Regulation) Act, 1957
  • Min of Minority Affairs
  • Regional Office of National Minorities Development & Finance Cooperation to be Inaugurated in Chennai by Dr. Najma Heptulla
  • Min of Petroleum & Natural Gas
  • Production Performance of Oil & Natural Gas Sector for the month of October, 2014
  • Global crude oil price of Indian Basket was US$ 75.81 per bbl on 20.11.201
  • Ministry of Railways
  • Suersh Prabhu Calls Upon to Undertake a Comprehensive and Structured Energy Audit in Indian Railways
  • Min of Urban Development
  • Shri M.Venkaiah Naidu asks states to tone up urban governance

Previous Date

 
Ministry of Finance22-November, 2012 16:44 IST
Reduction in Fiscal Deficit by increased Tax Collection

 

           

            The following steps are being taken by the Ministry to mobilize resources to increase tax collection in order to reduce fiscal deficit:-

(A)                Direct Taxes:

(i)                 Monitoring of Advance Tax payment especially by top taxpayers; Emphasis is also given to monitor Advance tax payers that have to pay Alternate Minimum Tax applicable from the Financial Year;

(ii)               Conducting surveys for detection of concealment of income and for compliance of TDS provisions.  Detection of new areas of violation/avoidance of the provisions of TDS and taking action for proper deduction and deposit of TDS;

(iii)             Organizing training programs for senior management as well as for DDOs (particularly of Government departments and PSUs) to spreading awareness about TDS &TCS provisions;

(iv)             Emphasis on collection out of arrear demand and monitoring of high default cases;

(v)               Detailed strategy for making quality assessment has also been devised;

(vi)             Cross-verification of data collected through Annual Information Return with the return of income and issuance of notices in suitable cases.  Using the data collected through Transaction statements for better quality assessments as well as recovery of demand;

(vii)           Multi-media campaign to encourage voluntary compliance of tax laws.

 

 

(B)                Indirect Taxes:

 

(i)                 To broaden the tax base and limit exemptions, negative list based comprehensive approach to service tax has been introduced with effect from the 1st July, 2012.

(ii)               From 1st of October, 2012, service tax on transport of goods and passengers (in air-conditioned class and first class) by rail has been brought into effect.

(iii)             In addition, other steps including monitoring of revenue, strengthening of anti-evasion and audit mechanism, conduct of targeted audits and search operations, adjudication of pending show cause cum demand notices, realization of arrears, steps to curb undervaluation of import, disposal of confiscated bullion and precious stones, administrative steps like redeployment of human power to service tax field formations which have more potential for augmentation of revenue.

 

             This was stated by the Minister of State for Finance, Shri   Namo Narain Meena in written reply to a question in the Rajya  Sabha today.

 

 

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(Release ID :89199)

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