Direct Tax
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Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data
Business | August 12, 2024 21:33 ISTThe rise in direct tax collections is seen as a positive indicator for the government's fiscal health and its ability to fund various developmental and welfare programmes.
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Direct tax collections jump by 18 per cent to Rs 19.58 lakh crore, exceeds estimates
Business | April 22, 2024 14:19 ISTThe government had raised the target for direct tax collection in FY24 (April 2023 to March 2024) to Rs 19.45 lakh crore in the interim Budget presented on February 1.
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Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%
Business | February 11, 2024 17:45 ISTIn the current fiscal year, net direct tax collection has surged by 20 per cent compared to the previous year, reaching Rs 15.60 lakh crore. This figure accounts for 80 percent of the revised budget estimates for the entire fiscal year.
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56 lakh updated ITRs filed, Rs 4,600 crore taxes collected in two years: CBDT
Business | February 02, 2024 11:16 ISTThe Budget announced the withdrawal of outstanding small tax demands dating back to 1962, up to Rs 25,000 till 2014-15.
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Direct tax to GDP ratio climbs to 6.11% in F.Y. 2022-23: CBDT releases comprehensive data
Business | January 23, 2024 19:52 ISTDirect Tax to GDP ratio seen an upward trajectory, ascending from 5.62% in F.Y. 2013-14 to 6.11% in F.Y. 2022-23, showcasing enhanced fiscal contribution.
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Budget 2024: Key terms you should know before the announcement
Budget | February 01, 2024 10:27 ISTUnion Budget 2024: The budget is expected to include various financial indicators, including inflation, fiscal deficits, capital expenditures, revenue receipts, bad loans, and more.
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Budget 2024: Here's what you can expect from this year's interim budget announcement
Business | January 12, 2024 18:50 ISTThe interim budget to be presented by Union Finance Minister Nirmala Sitharaman is expected to feature fiscal measures, including potential tax reductions, aimed at tackling rising prices and addressing ongoing inflationary trends.
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Direct tax collection increases by more than 17% in FY23, exceeding revised projections by 0.7%
Business | April 04, 2023 13:34 ISTThe Income Tax Administration revealed on Monday that direct tax collection for FY23 exceeded the revised projection by more than half a percentage point, despite a 37% increase in refunds.
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Union Budget 2023: Understanding the differences between direct and indirect taxes
Budget | January 24, 2023 12:32 ISTIndia’s tax regime mainly categorizes tax into types – Direct Tax and Indirect Tax. The difference between the two is based on the point of incidence.
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Net Direct Tax collections for 2021-22 grow by almost 100%
Business | June 16, 2021 17:54 ISTThe net direct tax collection has doubled to over Rs 1.85 lakh crore so far this fiscal, mainly driven by personal income tax and advance tax mop up, the I-T department said on Wednesday.
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Now, pre-filed ITR forms with capital gains, dividend, other details
March 18, 2021 10:58 ISTTransaction details of individual tax filers with respect of capital gains, dividend income, and interest income will soon become a standard of the pre-filled Income Tax return (ITR) form as the government looks to make tax compliance convenient for taxpayers.
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'Confident to achieve direct tax collection target': CBDT Chairman
News | February 02, 2021 11:20 ISTSpeaking on today's Union Budget 2021-2022, presented by Finance Minister Nirmala Sitharaman, in the Parliament, Central Board of Direct Taxes (CBDT) Chairman, PC Mody said, "The revised estimate for direct tax collection this year is Rs 9.05 lakh crores, out of which we have collected Rs 6.63 lakh crores.
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Govt's endeavour has been to further simplify Direct Tax laws: Sitharaman
Business | July 24, 2020 21:23 ISTAppreciating its continuous efforts towards making the tax administration taxpayer-friendly, transparent and geared towards facilitating voluntary compliance, she said there has been a paradigm shift in its role in recent years, from being just a revenue collecting organisation to becoming a more citizen-centric establishment.
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Parliament passes Direct Tax Vivad Se Vishwas Bill
Business | March 13, 2020 18:15 ISTThe parliament on Friday passed Direct Tax Vivad Se Vishwas Bill, 2020 with an aim to settle pending direct tax disputes in the country.
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Over 4.78 lakh income tax appeals pending at end of March 2019
Business | March 02, 2020 17:43 ISTThe number of income tax appeals pending at various judicial fora stood at 4,78,801 at the end of the financial year 2018-19, the Lok Sabha was informed on Monday.
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Direct tax collection up 5 per cent till November: Sitharaman
Business | December 03, 2019 7:19 ISTSitharaman clarified that the objective to reduce corporate tax is only to attract investment, stimulate growth and also to create job opportunities.
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Modi govt likely to bring ordinance to cut tax rates for individuals
India | September 24, 2019 21:38 ISTTax bonanza for individuals could be on cards as the Modi government is planning to slash existing tax rates for individual taxpayers in an effort to boost demand. The news comes after task force on direct taxes recommended revising income tax slabs.
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Massive cuts in personal income tax soon? Task force recommends
Business | September 23, 2019 19:21 ISTAccording to the report, the submission was made on August 19, 2019. The task force said income tax rates could be cut for individuals in order to boost consumption.
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Most taxpayers don't expect direct tax changes in budget: Survey
India | July 02, 2019 22:29 ISTAround 53 percent of the taxpayers interviewed in the KPMG's pre-budget survey felt that there will not be any major announcement on direct taxes. Around 27 percent said that there will be major changes, while 20 percent were not sure of any eventuality, the report showed.
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Panel on direct tax laws to look into cross-verification of financial transactions, data sharing
India | June 26, 2019 21:46 ISTThe Finance ministry has broadened the terms of reference (ToR) of the task force, headed by CBDT member Akhilesh Ranjan, to also include faceless and anonymized verification/ scrutiny/ assessment and reduction of compliance burden by simplification of procedures.
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