India’s net direct tax collection grows 16.45%, advance tax rises 21% this fiscal
Dec 18, 2024, at 10:53 pm
New Delhi: India’s net direct tax collection rose by 16.45% year-on-year to over Rs 15.82 lakh crore as of December 17 this fiscal, driven by higher advance tax payments, according to government data.
CBDT grants officials authority to waive or reduce interest payments
Nov 06, 2024, at 06:18 am
New Delhi: The income tax department has granted tax officials the authority to waive or reduce the interest payable by taxpayers, provided certain conditions are met, media reports said.
Axis Bank facilitates seamless GST payments for its commercial card clients
Aug 08, 2024, at 06:36 am
Kolkata: Axis Bank today announced its successful integration with the Goods and Service Tax portal, thereby allowing its Commercial Card Corporate customers to make GST payments seamlessly.
Govt to not go easy on Infosys over Rs 32,000 cr GST demand
Aug 07, 2024, at 06:15 am
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
Budgets 2024-25: Key benefits Finance Minister Nirmala Sitharaman announced
Jul 24, 2024, at 03:18 am
New Delhi: Union Finance Minister Nirmala Sitharaman on Tuesday announced some key benefits for people in Budget 2024-25.
Jul 04, 2024, at 02:22 am
New Delhi: As the Union Budget 2024 approaches, taxpayers and financial experts are keen to see if new tax deductions will be introduced or existing ones modified.
Net direct tax collection grows 21% YoY to over Rs 4.62 lakh cr in Apr-Jun
Jun 19, 2024, at 02:45 am
New Delhi: India's net direct tax collections have increased by 21 percent year-on-year, reaching over Rs 4.62 lakh crore from April 1 to June 17, according to the income tax department on Tuesday.
April GST collection hits record high at Rs 2.1 lakh crore, up 12.4% y-o-y
May 02, 2024, at 03:00 am
New Delhi: India saw a record high in Goods and Services Tax (GST) revenue for April 2024, a 12.4 percent y-o-y increase, hitting a historic peak of Rs 2.1 lakh crore in gross terms, the Finance Ministry said on Wednesday.
CBDT enables taxpayers to file returns from Apr 1
Apr 05, 2024, at 05:01 am
New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024–25 (relevant to Financial Year 2023–24) from April 1, 2024, and onwards.
Direct tax collection surges 20% to Rs 18.90 trillion till March 17q
Mar 20, 2024, at 03:19 am
New Delhi: The income tax department reported a growth of 19.88 percent in net direct tax collection, which has surpassed Rs 18.90 trillion as of March 17.
January GST collection grows 4.4% to Rs 1.72 lakh cr
Feb 01, 2024, at 05:52 am
New Delhi: The government's Goods and Services Tax (GST) collections surged to Rs 1.72 lakh crore in January, according to the provisional data released by the Ministry of Finance on Wednesday.
Centre increases windfall tax on petroleum crude to Rs 9,800/ton
Nov 01, 2023, at 04:45 am
New Delhi: The Centre on Tuesday increased the windfall tax on petroleum crude from Rs 9,050/ton to Rs 9,800/ton, effective from November 1, a government notification said.
Direct tax collection grows 17% to Rs 5.84 lakh cr so far this fiscal
Aug 12, 2023, at 09:10 am
New Delhi: Net direct tax collection in the current fiscal year up to August 10 stood at Rs. 5.84 lakh crore, 17.33% higher than the net collections for the corresponding period of last year.
28% GST on online gaming: GST Council agrees to review after 6 months of implementation
Aug 03, 2023, at 05:58 am
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced the decision to implement 28% GST on the full face value of bets placed on online games, horse racing, and casinos.
Higher TCS levy on overseas spending postponed by 3 months to Oct 1
Jun 29, 2023, at 05:17 am
New Delhi: The Finance Ministry said on Wednesday that the implementation of the increased Tax Collected at Source (TCS) on overseas spending would be delayed by three months from the initial deadline of July 1.
May 20, 2023, at 07:16 am
New Delhi: The Centre on Friday announced that individuals who use their international debit or credit cards for payments, up to Rs 7 lakhs per financial year, will be exempted from the limits set under the Liberalized Remittance Scheme (LRS).
Direct tax collections in Fy23 up 24.09 pc till Feb
Feb 12, 2023, at 05:28 am
New Delhi: The direct tax collections for the financial year 2022-23 (till February 10) registered a growth of 24.09 pc at Rs 15.67 lakh crore over the collections for the corresponding period of last year, government data showed on Saturday.
June GST collection jumps 56 pc YoY to Rs 1,44,616 cr
Jul 02, 2022, at 03:51 am
New Delhi: India's GST collection in June jumped 56 percent on an annual basis to Rs 1.45 lakh crore compared to Rs 1.4 lakh crore in May, Finance Minister Nirmala Sitharaman said Friday.
Income Tax: Govt may increase standard deduction by 30-35 pc
Jan 12, 2022, at 02:47 pm
New Delhi/IBNS: The government is mulling an enhancement in the tax bracket for the salaried individuals by 30-35 percent in the upcoming budget while keeping the existing income tax slabs unchanged, media reports said.
Income of company with no presence in India is not taxable: ITAT
Nov 20, 2021, at 01:43 am
New Delhi/IBNS: A tax tribunal has ruled that domestic taxes cannot be levied on a company that doesn't have any presence in India, media reports said.
35,074 taxpayers chose 'Vivad Se Vishwas Scheme': Anurag Thakur
Sep 20, 2020, at 09:49 pm
New Delhi/UNI: A total of 35,074 taxpayers have opted for the Direct Tax Vivad Se Vishwas Act since its enactment through Form-1 (Declaration under the scheme) that were submitted till September 8.
Cabinet approves Agreement and Protocol between India and Chile for the avoidance of double taxation
Nov 27, 2019, at 03:55 pm
New York/IBNS: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of the Double Taxation Avoidance Agreement (DTAA) and Protocol between the Republic of India and the Republic of Chile for the elimination of double taxation and the prevention of fiscal evasion and avoidance with respect to taxes on income.
Taxation: Cabinet approves signing of agreement between India, Maldives
Feb 25, 2016, at 03:29 am
New Delhi, Feb 24 (IBNS) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday gave its approval for signing of an agreement between India and Maldives for the avoidance of double taxation of income from international air transport.