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Income taxes, Income tax in India, Income Tax Department, Corruption in India, New Tax Regime, Union budget of India, Refunds, direct tax collections

Net direct tax collection up nearly 9% so far in FY26: I-T Department

Gross direct tax collection increased 4.14 per cent to about Rs 21.50 lakh crore till January 11 of this fiscal.

Updated: January 12, 2026 20:15 IST

Centre’s GST revenue growth may halve from FY26 BE: Analysts

Monthly mop-up in Jan-March seen at Rs 1.8-1.9 lakh crore.

January 6, 2026 21:18 IST

Q3 Advance Tax Growth Slumps to 4% Amid Income Tax Relief Measures

Advance taxes grow 4.3% in Q3, non-corporate sector sluggish

India’s Q3 advance tax collections rise marginally by 4.27%, facing a potential ₹1.5 lakh crore revenue shortfall in FY26 due…

Updated: December 24, 2025 12:54 IST

Vivek Chaturvedi, IRS Officer with Vigilance Expertise, Appointed New CBIC Chairman

Vivek Chaturvedi appointed new CBIC chairman

Vivek Chaturvedi, a 1990-batch IRS officer and former Principal Director General of Vigilance, has been appointed the new Chairman of…

November 29, 2025 23:38 IST

Bihar’s new welfare schemes under the Nitish Kumar-led NDA government are expected to cost nearly Rs 80,000 crore

Nitish Kumar’s welfare push adds massive cost—Can liquor tax revenues rescue Bihar’s finances?

Bihar faces massive fiscal stress as new welfare schemes add nearly Rs 80,000 crore to spending. Liquor tax revenue could…

November 15, 2025 18:17 IST

Centre's net direct tax collections up 7% so far in FY26 on lower refunds: CBDT

Direct tax collections rise 7% on year

On the indirect tax front, Central GST collections rose 5.8% to Rs 4.7 lakh crore in H1FY26, against an 11.2%…

November 11, 2025 19:53 IST

Across the aisle by P Chidambaram: Time for an apology

In the last eight years, the government had used the multiple GST rates to exploit and extract the last paise…

September 14, 2025 07:45 IST

Motilal Oswal auto stock recommendations, auto stocks to buy now

Govt rules out cess refund, auto dealers face Rs 2,500 crore hit

CBIC Chairman Sanjay Kumar Agarwal has clarified that there will be no refund or adjustment of the GST compensation cess…

September 5, 2025 00:06 IST

GST 2.0: A Bold Policy to Simplify Taxes and Boost Economic Growth.

Catalyst for indirect tax regime

Reforms aim to strengthen domestic market, enhance competitiveness, and aid inclusive growth.

September 4, 2025 22:38 IST

GST, Goods and Services Tax, MSMEs, farming, economy,

2-tier GST regime from September 22

Govt restructures GST regime to a 2-tier system with 5% and 18% slabs, plus 40% on sin goods, effective September…

Updated: September 3, 2025 23:43 IST

GST Council, Groups of Ministers, GST, rate rationalisation, life & health insurance, compensation cess, GST exemption, finance ministry, central government, tax collection

GST reforms before Diwali: Tax experts call it ‘timely and much-needed’ intervention

Despite global challenges, India’s macro stability, tax growth, and growth momentum remained strong, and the GST reforms, combined with stable…

August 16, 2025 11:44 IST

ITR Filing AY 2025-26: Deadline Extended to Sept 15, But Pay Tax Early to Avoid Penalties; New Capital Gains & Deduction Rules Apply. (Image Source: Financial Express)

Pay additional taxes now on FY25 income to save on interest outgo

While the Income Tax Return (ITR) filing deadline for AY 2025-26 has been extended to September 15, 2025, taxpayers are…

June 27, 2025 20:42 IST

GST, GST collection, GST revenue, exports, imports, GST refund, geopolitical factors, consumer spending

56th GST Council Meeting: Slabs, cess and simplification – Here’s what to expect

The 56th GST Council meeting is expected to take up key issues including rate rationalisation, compensation cess, and compliance simplification.…

Updated: June 26, 2025 14:36 IST

As of the week ending April 25, the average refund rose 3.3% year-over-year—from $2,852 in 2023 to $2,945 in 2024. However, the total amount refunded to taxpayers increased at a slower pace of 2%, growing from $260 billion to $265 billion.

IRS Tax Refunds 2024: Average tax refund higher than last year, number of refunds issued declines

Despite the increase in average refund size, the IRS issued fewer refunds overall. The number of refunds dropped by 1.3%,…

May 7, 2025 18:42 IST

direct tax, net direct tax collection, corporate tax collection, personal income tax, tax revenue

Net direct tax collections surge 13.13% to Rs 21.27 lakh crore so far in FY25

The net direct tax collection grew by 13.13 per cent to about Rs 21.27 lakh crore so far this financial…

March 17, 2025 16:45 IST

India cut its customs duty rate to 10.65% from 11.65%.

Average customs duty cut to 10.65%: CBIC Chairman

India has reduced its average customs duty rate to 10.65% from 11.65%, aligning with Southeast Asian levels, said CBIC Chairman…

February 3, 2025 23:24 IST

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

Reducing compliance costs for indirect taxes – A wishlist for Budget 2025

As India gears up to claim the 4th spot among the world’s largest economies by 2025, there is a pressing…

January 31, 2025 20:38 IST

Budget 2025, Union Budget, Nirmala Sitharaman, indirect tax, taxation, economic growth, fiscal discipline

Budget 2025 Expectations: FM expected to use indirect tax as key to maintain balance between growth and fiscal discipline

The upcoming budget presents a crucial opportunity to refine indirect tax policies, boost revenue generation, and foster inclusive growth, creating…

January 31, 2025 10:06 IST

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