Recession easing - Govt expecting rise in corporate tax

(posted under Corporate tax updates) - i was just surfing on net about the economic updates and one thing is sure that recession has almost dimnished but earlier the news about a double dip recession were prevelant , but as the exports have increased and inflation has moved upwards again after a four months dip so the government particularly finance ministry has become optimistic and have already predicted that there would be marginal increase in corporate tax for coming quarter as banking and automobile sector has performed exceptionally well.


The finance ministry expects corporate tax receipts at 2.57 trillion rupees in 2009/10. Corporate tax receipts were at 493.39 billion rupees during April-August. "We are expecting a marginal improvement in corporate advance tax payments this quarter. The finance ministry had revised upwards its direct tax receipts target to 4 trillion rupees from 3.7 trillion estimated in the July budget.