Page 4 - Direct Tax

India at 75: Prudent public finance policy still remains a challenge

Among other things, making the direct tax regime less confusing and bringing in expenditure reform are crucial challenges for the central government

At Rs 3.39 trillion, direct tax collection sees a 45% surge: CBDT

Advance tax by companies and individuals rises 33%

At Rs 42,679 crore, advance tax collection up 48% in April-June quarter

Direct tax collection, net of refunds, stood at Rs 2.81 trn, according to initial estimates; advance tax collection for the period between April 1 and June 15 was Rs 42,679 cr

Centre moots ruling authority to fix direct tax liability, settle disputes

Revenue dept to take up measures to boost tax-to-GDP ratio to 15-20%

Net direct tax collection reaches highest figure of Rs 14.09 trn in FY22

The net direct tax collection has increased by 49.02 per cent during financial year 2021-22

Direct tax mop-up beats the revised estimates at Rs 13.6 trillion

Up more than Rs 1 trn over RE for FY22, to help govt rein in fiscal deficit at 6.9%

Direct tax collection soars 48% in FY22, advance tax payment up 41%

Almost 53% of all direct tax collection was from corporate tax, while 47% came from personal income tax, including securities transaction tax on shares

Direct Taxes: FM Sitharaman chooses quiet consolidation in Budget

The yardsticks of stability, predictability, rationalisation and simplification define the tax proposals

What are the new and old income tax regimes?

n the Union Budget 2020, Finance Minister Nirmala Sitharaman had introduced a new tax regime. Our next report presents the difference in tax rates between the new regime and the old regime

Union Budget 2022-23: Phasing out of some tax exemptions likely

FinMin also exploring the option of rationalising capital gains tax rates

Top headlines: Govt withdraws spending curbs; direct tax mop-up grows 74%

Business Standard brings you the top headlines on Friday

Advance tax collection surges 146% despite Covid-19-led economic disruption

Net direct tax mop-up zooms 100% till June 15

Spend, earn, tax: Finances of Union Budget 2021 explained in nine charts

Taxes on individual incomes will now bring more revenue to the government than taxes on corporate profits

For direct taxes, Budget 2021 has largely maintained status quo

To further support the start-up ecosystem, the tax holiday has been extended by one year by including start-ups incorporated till March 31, 2022 to be eligible for the tax holiday

Direct tax compliance set to be made easier in upcoming Budget

Budget may resolve issues related to administration

FM Nirmala Sitharaman told to extend ITRs, tax audit and AGM time frame

The Direct Taxes Professionals Association (DTPA) has urged Finance Minister Nirmala Sitharaman for extension of date of furnishing of tax audit report under section 44AB to February 28

Govt collects Rs 72K-cr under Vivad Se Vishwas direct tax resolution scheme

A total of 45,855 declarations have been filed under Form 1 as on November 17 and declarations amount to Rs 31,734 crore

Direct tax practitioners seek extension of Sebi settlement scheme till Mar

Direct tax practitioners have urged SEBI to extend the last date of availing the Settlement Scheme 2020 from October 31 to March 31 in the wake of the COVID-19 pandemic induced disruptions

Net direct tax collections decline 31% in April-August FY21

The net direct tax collection in April-Augustwas 31.1 per cent lower on year-on-yearbasis at over Rs 1.92 trill, according to data provided by Minister of State for Finance Anurag Thakur in Lok Sabha

Economic contraction easing? Direct tax mop-up down, but not like earlier

At 23 per cent, decline in collection was slightly better than 30 per cent seen a fortnight ago, provisional data show