Direct tax

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New Delhi: India has collected ₹16.68 lakh crore in gross direct tax till March 10 in the ongoing fiscal year, a rise of 22.6% over the year-ago period, shows data released on Saturday. Net of refunds, the collection was ₹13.73 lakh crore,…

A higher share of direct taxes is considered a hallmark of progressive tax burden. This is because direct tax burden increases as income/wealth of the taxpayer goes up. How does India fare on the direct tax front? Here are five charts that…

Congress leader P Chidambaram on Wednesday claimed that the Union Budget has "betrayed" the hopes of a vast majority of Indians and shows how far removed the government is from the people and their concerns about life, livelihood and the…

How much is the government expecting to earn, how much does it plan to spend, and how will it finance the gap? In her Budget 2023-24, Finance Minister Nirmala Sitharaman has brought down the fiscal deficit target. The fiscal deficit in…

<!-- -->The budget had estimated direct tax collection at Rs 14.20 lakh crore this fiscal.New Delhi: The country's gross direct tax collection rose 24.58 per cent to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an…

The country's gross direct tax collection rose 24.58 per cent to ₹14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up, the government data showed on Wednesday.After adjusting refunds, net…

The Central Board of Indirect Taxes and Customs (CBIC) has said that show-cause notices for tax not paid or short paid or input tax credit wrongly availed or demand for any penalty have to be sent within two years and nine months from the…

Image for representation purpose only. | Photo Credit: Reuters India’s net direct tax collections in 2022-23 surpassed the ₹11-lakh crore mark by December 17, reflecting a 19.8% uptick over last year, the Central Board of Direct Taxes said…

The GST Council on Saturday agreed to decriminalise certain offences and doubled the threshold for launching prosecution under the tax law to Rs 2 crore, but retained the limit at Rs 1 crore for fake invoicing. The Council also clarified…