Direct tax

<!-- -->The growth rate for corporate income tax (CIT) is 7.13 per cent, while that for PIT is 28.29 per cent.New Delhi: Net direct tax collection swelled 22 per cent so far this fiscal year to Rs 10.60 lakh crore, crossing 58 per…

GST council is yet to decide on the recommendations by a committee on July 11.The Council also suggested that the provision should step in if the difference is more than 20% and more than Rs 25 lakh. The Goods and Services Tax (GST)…

The pan-India drive against fake GST registration has created problems for e-commerce companies which maintain virtual offices in various states with minimal staff and no books of accounts. Talking to PTI, MakeMyTrip Group Vice President…

New Delhi: Consultants, professionals and individuals with income from businesses will now be able to opt for the old tax regime in the current financial year, according to a notification issued by the Central Board of Direct Taxes.The new…

NEW DELHI: The Centre’s gross direct tax collections have increased 12. 7% to a little under Rs 4. 2 lakh crore during the fiscal year up to June 17, on the back of healthy advance tax mop-up.Latest data released by the Central Board of…

NEW DELHI: The figures of Direct Tax collections for financial year 2023-24 as on June 17 show that net collections are at Rs 3,79,760 crore, compared to Rs 3,41,568 crore in the corresponding period of the preceding FY, representing an…

Currently, the highest income tax rate in India stands at 39 per cent. (Representative image)India's gross direct tax collection during the last fiscal ended March 2023 grew over 20 per cent to Rs 19.68 lakh crore. While India…

The income tax department on Friday invited comments from stakeholders on rules for valuing non-resident investment in unlisted startups. The Central Board of Direct Taxes (CBDT) has issued a draft notification inviting comments on the…

The Income Tax department Monday said online game platforms will not be required to deduct tax at the source for a player if the net winning does not exceed Rs 100. Finance Act 2023 inserted a new section 194BA in the Income-tax Act, 1961,…

Venture capital (VC) investors welcomed the changes proposed by the government to angel tax provisions that were originally announced in the Union budget for 2023-24, saying they provide much-needed clarity on incidence of the tax while…