Page 6 - Direct Tax

Committee submits report on replacing I-T Act with Direct Tax Code

The recommendations made by task force headed by CBDT member Akhilesh Ranjan have not been made public.

Budget impact: Direct tax proposals are futuristic and far reaching

Tax exemption on withdrawal from NPS at the time of closure or opting out will be enhanced from 40% to 60%

Budget 2019: India Inc grim over customs, direct tax surcharge uptick

Industry captains, experts at CII, FICCI praise some measures; say government could have done much more

Direct tax mop-up reaches Rs 11.5 trn against revised target of Rs 12 trn

The collection figures are expected to go up as the tax collection continues till midnight, said a government official in the know

Govt faces direct tax mop-up shortfall, collects Rs 4 trn as advance tax

RS 4 trillion collected in advance tax; SBI, ONGC, PNB top the list

DTC panel is likely to get one more month to draft the law, says official

The panel is likely to recommend a structure of rates for corporate taxes that is competitive across the south Asian economic region

Direct tax mop-up at Rs 7.88 trillion in April-Jan: Govt informs House

The collection had stood at Rs 4.69 trillion in the entire 2017-18

Direct taxes to exceed target of Rs 11.5 trillion in 2018-19: CBDT chairman

In 2017-18, the revised estimate was higher than the Budget Estimate by 2.6%

Direct tax mop-up rises 14.1% to Rs 8.74 trn during April-Dec 2018: FinMin

Net collections (after adjusting for refunds) have increased by 13.6% to Rs 7.43 trillion during April-December, 2018

Direct tax collections surge 15.7% to Rs 6.75 trillion in April-November

Gross collections in corporate income tax (CIT) and personal income tax (PIT) grew 17.7 per cent and 18.3 per cent, respectively

India may cross Rs 11.5 trn direct tax collection target: CBDT chief

Total tax refund so far in the current financial year stands at about Rs 950 billion

Direct tax mop-up exceeds target in FY18 at Rs 9.95 trn; 68.4 mn ITRs filed

A net of 9.95 million new assessees were added to the tax net

Report on direct tax reforms in 4-5 months: CEA Arvind Subramanian

The six-member task force will have Arbind Modi, CBDT Member (Legislation) as the convener

Direct tax code should revert to 2009 while simplifying further

The final draft - say DTC14 - had cleared all ministries but was not taken to Cabinet

Direct tax collections rise 14% to Rs 4.8 lakh cr in Apr-Nov: CBDT

Refunds amounting to Rs 1.02 lakh crore have been issued during April-November, 2017, it added

Widening of direct tax base

Notwithstanding demonetisation and GST, jury is still out on govt's ability to achieve this goal

Direct tax mop-up till February high but below target

Direct tax collection grew by 10.7 per cent in the first 11 months of this financial year (April 2016 till February 2017) over the same period a year before, less than the set target. The full-year target is Rs 8.47 lakh crore or 14.3 per cent more. With Rs 6.17 lakh crore collected in these 11 months, March has to see a 20-plus per cent growth to achieve the target.The subdued tax numbers were due to fall in growth of both corporation tax due to still-awaited recovery in the performance of companies and personal income tax in April-February compared to April-January period. "We are hopeful of achieving the target. Net tax collections have been low due to substantially higher refunds issued compared to the previous fiscal. Besides, the corporate sector is yet to show a pick-up," said a government official.Corporation tax growth was 2.6 per cent up to February, slower than the 2.9 per cent in the period to January. Personal income tax grew 20 per cent up to February, against 23.1 per ..

Mumbai, Delhi see tepid direct tax collection growth

New Delhi alone has collected a total tax amounting to Rs 74,147 crore during the reporting period

Direct tax collections till Sept grew 8.95% to Rs 3.27 lakh cr: Finance Ministry

The statement further said that till September, 2016, advance tax collections have reached Rs 1.58 lakh crore

Direct tax mop-up rises 15% to Rs 1.89 lakh crore in April-August

Gross collection of Corporate Income Tax grew at 11.55 per cent, while that under personal income tax it was 24.06 per cent