India's direct tax collections for the financial year 2023-24 have witnessed a significant boost, surging by 17.6% to reach Rs 12.37 lakh crore, according to data released by the Income Tax (I-T) Department. The provisional figures for the period until November ...
The Indian government has collected Rs 6.53 lakh Crore as gross direct tax in the current fiscal year till August 10, according to data released on Friday. This represents a 15.7% increase year on year. Direct tax collection, net ...
Direct tax collections are expected to breach the revised target of Rs 12.50 lakh crore and set an all-time high and "historic" record by the end of this financial year in March, CBDT Chairman J B Mohapatra has said. ...
The Reserve Bank of India (RBI) has yesterday allowed IndusInd Bank to collect Direct and Indirect Taxes on the direction of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC). "The authorization has ...
Despite the economic disruption caused by the COVID-19 pandemic, net direct tax collections for FY 2021-22 have increased at a healthy rate. In the fiscal year 2021-22, refunds totaling Rs 30,731 crore were also issued. Direct Tax Direct Tax collections for ...
Net direct tax collections for the Financial Year 2020-21 are estimated to be Rs. 9.45 lakh crore, according to preliminary figures according to the CBDT release. Despite the inherent challenges posed by the COVID-19 pandemic on the economy, net direct tax ...
On August 13, 2020 Prime Minister Narendra Modi introduced the 'Transparent Taxation' platform while also announcing measures to enhance tax compliance, easing of process of tax return filing and faceless assessment. At the same time, the government proposes to reduce threshold ...
On Thursday, Prime Minister Narendra Modi launched a platform called "Transparent Taxation - Honoring the Honest" via video conferencing. The main features of the new platform are faceless assessment, faceless appeal and taxpayers' charter with a focus to make the income ...
In a statement on Wednesday, the Prime Minister's Office said that PM Narendra Modi will launch the platform for "Transparent Taxation - Honoring the Honest" via video conferencing on 13 August. Describing the various initiatives taken by the CBDT (central board ...
On Wednesday, in the Lok Sabha there was tabled the Direct Tax Vivad Se Vishwas Bill, 2020 based on which the Centre aims to cut down as many as 4.8 lakh tax litigations amounting to Rs. 9.32 lakh crore as on ...
Direct tax mop up for the first time is likely to decline in around two decade's time. This shall be alongside a scenario when the country's economic growth has fallen sharply lower to six-year's low and cut in corporation taxes. ...
