Page 2 of Direct Tax

Budget 2025, Budget 2025 Expectations, Nirmala Sitharaman, compliance, indirect tax, tax reforms, GST

Major relief to Mauritius investors as tax board clarifies on new rule

Pre-FY18 investments not to face “principal purpose” test for capital gains tax waiver.

January 23, 2025 04:30 IST

CBDT, tax, direct tax, dispute resolution panel, DRP, ITAT, HCs, SC

Rein in tax terrorism

We need a transparent system that curbs litigation and a quick resolution process.

January 3, 2025 04:30 IST

Govt highlights efforts to identify tax evaders and improve services

Identification of Tax Evaders: Taxpayers alert! Govt conducts surveys to identify evaders

The government has been actively conducting surveys under Section 133A of the Income-tax Act to identify tax evaders while improving…

December 25, 2024 21:18 IST

Economy, tax, advance tax, direct tax collection, taxpayers, direct tax refunds

Advance tax receipts rise 17 per cent in Q3

Advance taxpayers have to pay 15% of their annual income tax liability by June 15, 45% by September 15 and…

December 17, 2024 05:30 IST

CBDT, Economy, Direct tax, tax, tax collection, income tax act, income tax

Direct tax collections likely to exceed Budget target: CBDT chief

Of the total, net corporate tax collections rose 6.5% on year to Rs 5.1 trillion, while non-corporate tax (PIT) mop-up…

November 19, 2024 03:15 IST

tax reforms, businesses, taxation, employment opportunities, start-up ecosystem, ease of doing business, Angel tax, Capital Gains Tax, buy-back, International Tax, tax disputes

Direct tax-GDP ratio at millennial high in FY24

An interesting feature is the sharp decline in share of corporate tax in direct tax receipts in recent years, while…

Updated: October 18, 2024 10:15 IST

Direct tax collections up 18.4 per cent

The slower pace of spending despite buoyant revenues will likely rein the fiscal deficit below 4.9% of GDP in the…

October 12, 2024 00:30 IST

Missed Sept 15 advance tax deadline? Prepare for additional taxes and interest on outstanding dues

Missed September 15 advance tax deadline? Prepare for additional taxes and interest on outstanding dues

Advance tax payments are split into four installments with specific due dates: 15% by June 15, 45% by September 15,…

September 17, 2024 15:31 IST

direct tax, taxes, budget, tax refunds, industry, economy

Direct tax mop-up rises 22.5%, exceeds budgeted pace

Refunds during April 1 – August 11 stood at Rs 1.2 trillion, which is 33.5% higher than last year.

August 13, 2024 02:00 IST

Direct tax proposals: Gradual move towards simplification

On direct tax front, the FM announced that the government would do a comprehensive review of the income-tax Act, 1961…

July 28, 2024 09:24 IST

Don’t forget e-verification after filing your ITR – Here’s all you need to do

E-verification is critical for ITR filing because without verifying the tax return the whole process doesn’t get completed. There are…

July 10, 2024 13:43 IST

Do NRIs need to file ITR if there is no income in India?

Usually, Non Resident Indians (NRIs) are exempt from filing an ITR if they have not earned any income in the…

July 2, 2024 18:34 IST

direct tax, tax, tax receipt, rbi, itr, budget 2024, budget, advance tax receipt

Advance tax receipts rise a robust 27% in Q1

Direct tax receipts up 21.6% till June 16, seen surpassing FY25 target.

June 18, 2024 02:45 IST

PM Modi or PM Rahul: How will taxpayers be impacted if Direct Tax Code gets implemented post Lok Sabha polls 2024?

Taxpayers to face higher tax outflows if Direct Tax Code gets implemented post Lok Sabha polls 2024

A report in the Financial Express last month stated that discussions were underway in the finance ministry regarding the implementation…

May 14, 2024 10:27 IST

direct tax, dtcr, taxes, income tax, central taxes, economy

Govt kicks off direct tax code revision

The move is aimed at further simplifying the laws governing direct taxes and aligning these more with the global norms,…

April 19, 2024 06:15 IST

More incomes in the tax net

More Indians now assessed to tax, they have higher incomes; tax net is cast wide.

April 19, 2024 05:00 IST

Syngene International, tax demand, Income Tax Department, tax notices

Advance tax receipts up 6% on quarter in Q4; direct tax receipts at 97% of FY24 revised estimate

Extra collections (post-devolution) would help the Centre to keep the fiscal deficit within the revised estimate of 5.8% of GDP…

March 17, 2024 06:00 IST

direct tax, direct tax collection, taxes, indirect taxes

Direct tax collections up 20%, reach 80% of FY24 target

The RE has pegged the government’s direct tax mop-up at Rs 19.5 trillion, higher than Rs 18.2 trillion pegged in…

February 12, 2024 02:00 IST

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Aadhaar card online update: How to change name, address, date of birth and phone number online in simple steps

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India Inc sitting on cash pile

Business59 min ago

India Inc’s cash reserves have surged to a record Rs 14.19 lakh crore, with top companies holding 83% of it. The boost is due to better financial performance and higher other income. Firms have also used their cash to pay off loans and reduce debt, resulting in a strong September quarter with a 12.7% rise in net sales and expanded operating profit margins.

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