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  Form 16 revised, employers required to give specific details now

  June 05, 2019 14:36 IST

  Form 16 revised: The Income Tax department has notified changes in Form 16 that requires more details from employers about deductions under tax saving schemes. Aim is to felicitate stricter scrutiny of claims made by assessees to check tax avoidance or evasion.

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  CBDT directs taxman to maximise collection efforts as growth rate not satisfactory

  Business | January 06, 2019 18:01 IST

  With growth in direct tax collections sluggish, the CBDT has directed income tax department officials to "maximise" their efforts and conduct targeted surveys and file court cases against those who wilfully evade taxes.

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  Direct tax-GDP ratio of 5.98 per cent during FY18 best in 10 years: Finance Ministry

  Business | January 02, 2019 18:52 IST

  In its 2018 review said, the ministry said: "There is a constant growth in direct tax-GDP ratio over last three years and the ratio of 5.98 per cent in Fiscal Year 2017-18 is the best DT-GDP ratio in last 10 years".

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  Direct tax collections surge 15.7 per cent to Rs 6.75 lakh cr in April-November

  Business | December 10, 2018 13:02 IST

  Gross collections in corporate income tax (CIT) and personal income tax (PIT) grew 17.7 per cent and 18.3 per cent, respectively. 

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  At Rs 9.95 lakh crore, direct tax collection exceeds target in 2017-18

  Business | April 02, 2018 18:36 IST

  Direct tax collection in the fiscal year just ended has exceeded the targets with a record 6.84 crore income tax returns being filed, officials said today.

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  Direct tax mop up rises 19.5% to Rs 7.44 lakh cr in April-February period of current fiscal

  Business | March 08, 2018 18:20 IST

  The net direct tax collection represents 74.3 per cent of the Rs 10.05 lakh crore as per the revised estimates given in Union Budget 2018-19, presented in Parliament last month.

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  Direct tax mop up soars 18% to Rs 6.56 lakh crore during April-December

  Business | January 09, 2018 18:26 IST

  As much as Rs 3.18 lakh crore has been received as advance tax up to December, 2017-18, reflecting a growth of 12.7 per cent over the year ago period.

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  Direct tax collections rise 18.2 per cent in April-December

  Business | January 09, 2018 12:09 IST

  Direct tax collections soared 18.2 per cent during the first nine months of current fiscal at Rs 6.56 lakh crore, the finance ministry said today.

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  Within months of GST launch, govt sets up task force to suggest changes to direct tax law

  Business | November 23, 2017 10:01 IST

  Eight years after he first helped draft a new direct tax code for India, top taxman Arbind Modi has been asked to do the task again to meet the contemporary economic needs of the country.

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  Confident to go past direct tax collection target of Rs 9.80 lakh crore: CBDT

  Business | November 14, 2017 23:37 IST

  CBDT on Tuesday said it was not only confident that the Income Tax (IT) department would achieve the direct tax collection target for the current financial year, but that it would go past it.

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  Direct tax collections rises 16% to 3.86 lakh crore in April-September: Finance Ministry

  Business | October 11, 2017 19:10 IST

  India's direct tax collections for April-September rose 15.8 per cent to Rs 3.86 lakh crore, buoyed by a healthy growth in advance tax mop-up, the finance ministry said.

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  Modi govt working on simpler rules to increase direct tax revenue, draft bill likely next year

  Business | October 10, 2017 12:54 IST

  The Narendra Modi-led government wants an overhaul of archaic tax rules to ensure that tax compliance is easy and dispute redressal, quicker.

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  At Rs 1.90L cr, govt sees 19 pc jump in direct tax revenue in April-June

  August 10, 2017 12:37 IST

  The collection for the April-July period is 19.5 percent of the Rs 9.80 lakh crore target from this segment for the entire 2017-18, the Finance Ministry said

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  Demonetisation pushes govt’s Q1 direct tax collections by 14.8 pc to Rs 1.42L cr

  July 07, 2017 12:12 IST

  While gross collections under Corporate Income Tax (CIT) grew at 4.8 per cent, that from Personal Income Tax (PIT), including Securities Transaction Tax (STT), rose by 12.9 per cent

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  Rocking growth? Mumbai zone direct tax mop-up flat in April-September, refunds grow by 29 pc

  October 23, 2016 14:30 IST

  Income tax mop-up from the metropolis remained flat during the first half of this fiscal at Rs 98,683 crore, as compared to Rs 97,499 crore in the year-ago period.

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  Service Tax: New guidelines for returns' scrutiny from August

  July 17, 2015 18:15 IST

  New Delhi:  Announcing new guidelines for the manual scrutiny of service tax returns from August 1, the finance ministry on Friday said while scrutiny and anti-evasion work will be the domain of the Central Board of

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  Share of direct tax to touch 12 per cent of GDP, says Pranab

  May 27, 2012 15:13 IST

  Kolkata, May 27: Union Finance Minister Pranab Mukherjee today said the share of direct tax in the overall tax basket has increased considerably and would reach 12 per cent of the country's GDP soon.“The share

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  Direct Tax Code Bill Deferred, GST Will Be Operational By August

  India | March 16, 2012 15:38 IST

  New Delhi, Mar 16: Finance Minister Pranab Mukherjee today said government was commited to enact the Direct Taxes Code (DTC) Bill at the earliest, after expeditious examination of the report of the Parliamentary Standing Committee.

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  Tax Refunds Pull Down Net Direct Tax Collections By 17 PC

  July 07, 2011 18:30 IST

  New Delhi, Jul 7: Driven by a hefty increase in tax refunds which more than doubled in the first quarter of the current fiscal, net direct tax collections dropped by almost 17 per cent during