Direct Tax

Friday, Apr 26, 2024 | Last Update : 01:22 PM IST

Sitharaman said several domestic and global firms have expressed interest in investment post announcement of the reduction in corporate tax rate.

Gross direct tax collection rises by 5 per cent till Nov: Sitharaman

The main objective of the reduction in corporate tax was aimed at attracting fresh investment in the manufacturing sector.

02 Dec 2019 7:21 PM

The task force was assigned to draft direct tax laws in line with the norms prevalent in other countries

Tax force on direct taxes gets more time to submit report

The government has allowed the task force to submit its report by 16th of August 2019.

01 Aug 2019 10:56 AM

The target for GST collection was revised downwards to Rs 6.44 lakh crore from the Budget Estimate of Rs 7.44 lakh crore.

Direct tax mop-up may fall short of Rs 50,000 cr in FY'19, says official

The shortfall in direct tax mop-up coupled with lower GST realisation may have implications on fiscal deficit.

09 Apr 2019 5:54 PM

As against the budget collection target of Rs 12,00,000 crore, only 85.1 per cent of the target at Rs 10,21,251 crore has been collected as on March 23.

Direct tax collection falls short, CBDT raises alarm

CBDT frames policy for the I-T dept and is also its controlling authority that functions from the North Block in the Finance Ministry.

28 Mar 2019 10:56 AM

"On direct taxes, we are reasonably confident of (meeting the target). But on the indirect tax front, there may be some shortfall," Economic Affairs Secretary Subhash Chandra Garg said last week. (Photo: File)

Net direct tax collection crosses Rs 10 lakh crore mark

Tax collection during April-January of this fiscal stood at Rs 7.89 lakh crore as against Rs 12 lakh crore targeted for 2018-19.

19 Mar 2019 1:59 PM

GST collection, however, is expected to rise to Rs 7.61 lakh crore in next fiscal.

Govt banking on advance tax collection to meet direct tax target of Rs 12 lakh cr

Government had earlier estimated Rs 11.5 lakh crore mop-up from direct tax collection.

15 Mar 2019 3:02 PM

The Adani project will be ready by the end of 2022. (Photo: File)

Govt approves Adani Power's Rs 14,000-cr J'khand SEZ project

The project was approved by highest decision making body on SEZ - Board of Approval - chaired by the commerce secretary.

03 Mar 2019 10:47 AM

CBDT shall also make all efforts for ensuring timely provision of service needs of its officials

New CBDT boss asks I-T dept to maximise revenue collection, get more taxpayers

Tax department has been given a target in Union budget to collect Rs 11.5 lakh cr revenue under the direct taxes category.

28 Feb 2019 11:17 AM

The task force was scheduled to submit the report by February 28.

Panel to overhaul direct tax law seeks 3 months extension

The panel was initially supposed to submit its report to the government, within 6 months, by May 22, 2018.

27 Feb 2019 3:52 PM

The influential taxpayer base has widened by an average 9 per cent per year, recording tens digit growth rate from units digit during assessment year (AY) 2013-14 to 2017-18. (Photo: File)

IT e-returns witnesses rapid growth than the taxpayer base

The growth track in direct tax collected approximately echoes the growth in influential taxpayer base, rather than the returns filed.

25 Feb 2019 1:07 PM

At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. (Photo: File)

Income tax returns filings rose over 37 percent in April-January

Between April to January period of the last two financial year, the growth was more subdued at 17 percent and 20 percent, respectively.

06 Feb 2019 11:09 AM

The government plans to harness India's long 7,500-km coastline by promoting water transport. (photo: file)

Investment in 17 entities under shipping ministry hiked to Rs 5,778 cr for FY'20

The government had proposed an investment of Rs 5,079.80 crore in the Budget for 2018-19.

03 Feb 2019 6:35 PM

Union Minister Arun Jaitley. (Photo: Twitter | @ANI)

Income tax rebate a logical extension of steps taken by govt: Jaitley

Piyush Goyal on Friday announced an income tax rebate on earnings of up to Rs 5 lakh.

02 Feb 2019 11:09 AM

The government intends to earn 8 paise from non-tax revenue like disinvestment, while it plans to mobilise 3 paise from non-debt capital receipts.

For every rupee in govt kitty, 70 paise comes from direct, indirect taxes

The collection from GST has been pegged at 21 paise as a percentage of every rupee earned.

01 Feb 2019 3:51 PM

Goyal said the GST has been continuously reduced, resulting in relief of Rs 80,000 crore to consumers.

Budget 2019: Direct tax collection shoots up to Rs 12L cr from Rs 6.38 lakh cr

GST collections in January 2019 has crossed Rs 1 lakh crore.

01 Feb 2019 1:43 PM

As a last resort, government will go ahead to monetise its holdings in SUUTI that’s valued at Rs 55,000 crore. (Representational Image)

North Block finds ways to meet deficit target

As per 2018-19 budget projections, the Centre is likely to finance Rs 75,000 crore of fiscal deficit from small savings.

30 Jan 2019 10:30 AM

Net collections (after adjusting for refunds) have increased by 13.6 per cent to Rs 7.43 lakh crore during April-December, 2018.

Direct tax mop up rises 14.1 pc to Rs 8.74 lakh cr in Apr-Dec 2018

The gross collections for corporate tax is 14.8 per cent while that for personal income tax is 17.2 per cent.

07 Jan 2019 1:06 PM

The task force to redraft the 50 year old Income Tax laws would submit its report by February 28, 2019.

Panel to redraft direct tax laws to focus on simplification

The recommendations of the panel is likely to be included in the final budget for 2019-20.

19 Dec 2018 4:32 PM

The net direct tax collections represent 48 per cent of the total budget estimates of direct taxes for financial year 2018-19 (Rs 11.50 lakh crore).

Direct tax collections surge 15.7 pc to Rs 6.75 lakh cr in Apr-Nov

Refunds worth Rs 1.23 lakh crore have been issued in the eight months of the current fiscal.

10 Dec 2018 12:52 PM

Gross direct tax collection in the first six months of the financial year grew 16.7 per cent to Rs 5.47 lakh crore, Finance Ministry said on Thursday.

Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh crore in Apr-Sept

The Central Board of Direct Taxes has collected Rs 2.10 lakh crore as advance tax.

04 Oct 2018 12:39 PM

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Sunil Gatade

direct tax