E-PaperDirect Tax News
India Registers 17.63% Growth in Direct Tax Collection | Mint Primer | Mint
The Indian government has reported a sizeable increase in the collection of direct taxes for the fiscal year 23 (FY23), which blew past the estimates included in the budget by a staggering 2.41 lakh crore.
12 Apr 2023CBDT gives more time for various tax filings
The last date for making payments under the Vivad Se Vishwas scheme has been extended to 30 September.
2 min read30 Aug 2021Key tax changes to kick in today
A 5% tax collected at source (TCS) will be applicable on funds sent abroad, subject to ridersE-invoicing has been made applicable from 1 October to businesses with at least ₹500 crore sales
2 min read1 Oct 2020Net direct tax collection dips 31% in Apr-Aug to ₹1.92 lakh cr
The net indirect tax collection in April-August 2019 was ₹3,85,949 crore, as against ₹3,42,591 crore in April-August 2020
1 min read19 Sep 2020Tax payers get two months extra for filing FY19 income tax returns
CBDT invoked the powers given under the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance brought out in March to give extra time to tax payersThe CBDT on Wednesday notified the extension of due date for filing tax returns for FY19 from 31 July to 30 September
1 min read30 Jul 2020CBDT, CBIC sign pact to share data regularly
The MoU will facilitate the sharing of data and information between CBDT and CBIC on an automatic and regular basis, both organisations will also exchange any information available in their respective databases which may have utility for other organisations
1 min read21 Jul 2020Tax refund cases being processed on priority: CBDT
CBDT said in a statement that individuals and businesses have benefited from its refund drive with ₹24,603 crore being paid in income tax refunds and ₹46,626 in corporate tax refunds during the Covid days
1 min read17 Jul 2020Direct tax, IT return due date, EPF payment: Govt announces relief amid Covid
As part of the Union govt's effort to give a fillip to the economy amid the Covid-19 pandemic-induced slowdown, FM unveiled a host of tax-related measures.Tax deducted at source on non-salary income has been reduced by 25%. Also, the due date of filing I-T return for FY 2019-20 has been extended
13 May 2020Tax return forms to be revised after extension of deadlines
CBDT said that dates for making investment for claiming roll over benefit in respect of capital gains in certain cases has also been extended to 30 JuneGenerally, income-tax return forms are notified in the first week of April
1 min read19 Apr 2020Govt collects ₹7.52 lakh cr direct tax in Apr-Jan
The Revised Estimate has pegged the target for collection of direct taxes for the current fiscal, which ends on 31 March, at ₹11.7 lakh crore
1 min read3 Mar 2020Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared