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  Tax collection in India one of the highest, says Economist Surjit Bhalla | DETAILS

  Business | May 28, 2023 18:24 IST

  Tax collection in India: While speaking to media, Bhalla said reduction in tax rate is required to accelerate the pace of economic growth.

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  Union government slashes windfall gains tax on domestic crude oil to zero | Details inside

  Business | May 16, 2023 13:56 IST

  Windfall gains tax: This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.

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  Not liable to pay tax? Submit form 15G/15H to avoid TDS

  April 11, 2023 16:13 IST

  ITR Filing: If your income is below the exemption limit, send in Forms 15G or 15H right away to avoid the TDS on your investments.

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  ITR e-Verification: What to do if you receive an e-verification notice?

  Technology | March 29, 2023 21:15 IST

  During the e-Verification process, taxpayers have the opportunity to electronically confirm the data that financial institutions have provided.

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  ITR filing deadline AY 2023–24: Where and how to file income tax returns – detailed instructions

  Business | March 29, 2023 12:55 IST

  ITR filing deadline: With the new assessment year starting on April 1, the filing season for Income Tax Returns (ITR) is about to begin. Taxpayers need to be aware of various aspects of ITR filing, including when to file, how to file, and which ITR form to select.

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  Here is how new ITR forms are different from old ones - all you need to know

  February 16, 2023 18:21 IST

  This year, the CBDT has released tax return forms for the Fiscal Year 2022-23 well in advance. The change will assist taxpayers in being well-prepared for reporting requirements on tax return forms.

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  United Kingdom PM Rishi Sunak fires party chairman Nadhim Zahawi over 'tax bill' allegations

  World | January 29, 2023 15:28 IST

  United Kingdom news: In a letter to Zahawi, Sunak wrote he had been forced to act after promising at the start of his tenure that his government “would have integrity, professionalism and accountability at every level”.

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  Union Budget 2023: Indian Edtech sector wants tax breaks, more funding for research

  Budget | January 18, 2023 12:09 IST

  The Indian edtech sector is demanding tax exemptions and increased allocation for research and development in the upcoming Union Budget 2023.

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  Budget 2023: What tax experts in India really want from Finance Minister Nirmala Sitharaman

  Budget | January 16, 2023 16:42 IST

  As the government prepares to release the 2023 budget, tax experts are expecting measures to boost economic growth and support small and medium-sized businesses, simplification of the tax code, measures to increase compliance and reduce tax evasion.

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  Union Budget: What are the income sources of government

  Budget | January 14, 2023 17:53 IST

  The government relies heavily on both tax and non-tax revenues to fund its operations. Non-tax revenues are the recurring income that the government earns from revenue sources other than taxes, while tax revenues are collected on income and profits.

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  World Cup 2023: BCCI could lose Rs 955 crore if ICC doesn't get tax exemption

  Cricket | October 14, 2022 17:53 IST

  As per ICC norms, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body.

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  Govt hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

  Business | September 01, 2022 7:08 IST

  India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies.

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  Corporate tax collection up by 34 per cent between April-July

  Business | August 13, 2022 14:31 IST

  Business news: The tax department tweeted on corporate tax collection growth in April-July in an apparent attempt to counter criticism of the 2019 reduction in tax rates for companies which was alleged to have dented the Centre's revenue collections, impacting its spending on social welfare schemes.

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  GST imposed on ‘Sarais’? What Central Board of Indirect Taxes & Customs said

  Fact Check | August 04, 2022 23:53 IST

  Certain sections of the media and social media are spreading the message that GST has recently been imposed with effect from 18 July, 2022 even on ‘Sarais’ run by religious/charitable trusts. This is not true, Central Board of Indirect Taxes & Customs said.

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  Windfall tax on fuel export slashed; raised on domestic crude oil

  Business | August 03, 2022 6:58 IST

  Windfall tax on domestically produced crude oil was hiked to Rs 17,750 per tonne from Rs 17,000, a move that will hit producers like ONGC and Vedanta Ltd.

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  Windfall tax to recoup most of Rs 1 lakh crore revenue lost in excise cuts

  Business | July 03, 2022 11:45 IST

  The tax on crude oil producers like Oil and Natural Gas Corporation (ONGC), Oil India Ltd and Vedanta Ltd alone will fetch the government Rs 69,000 crore annually considering 29.7 million tonnes of oil production in 2021-22 fiscal (April 2021 to March 2022). 

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  Central Government slaps tax on petrol, diesel exports; imposes windfall tax on crude oil

  Business | July 01, 2022 14:54 IST

  The levy on crude, which follows record earnings by state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) and private sector Cairn Oil & Gas of Vedanta Ltd, alone will fetch the government Rs 67,425 crore annually on 29 million tonnes of crude oil produced domestically.

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  Centre releases Rs 95,082 cr to states as tax devolution for January

  Business | January 20, 2022 16:52 IST

  Poll bound states of Uttar Pradesh will receive Rs 17,056.66 crore, Uttarakhand Rs 1,063.02 crore, Punjab will receive Rs 1,718.16 crore and Goa is going to get Rs 367.02 crore along with all other states.  

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  Government extends deadline for various tax compliances, VsV payments

  India | August 29, 2021 17:14 IST

  The deadline for filing the Equalisation Levy statement in Form-1 for the Financial Year 2020-21 has been extended till December 31, against the original due date of June 30.

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  I-T Department extends deadline for various tax compliances

  Business | August 03, 2021 22:46 IST

  ​The income tax department on Tuesday extended the deadline for various compliances, including the filing of statements related to equalisation levy and remittances.