In her maiden Budget last month, Nirmala Sitharaman had cut corporate tax for companies with annual turnover of up to Rs 400 crore to 25%
Union Budget 2019: It’s time to move towards parity between banks and NBFCs; gold loan should be given priority sector status
By keeping the NBFCs out of the purview of Section 43D, our tax laws are subjecting the NBFCs to discriminatory treatment as compared to other financial institutions.
Direct tax-GDP ratio of 5.98% during FY18 best in a decade; returns filings up 80% in last four years: Finance ministry
Growth rate for corporate income tax and personal income tax stood at 17.7 percent and 18.3 percent, respectively.
Gross collections in corporate income tax (CIT) and personal income tax (PIT) grew 17.7 percent and 18.3 percent, respectively.
Direct tax collections soared 18.2 percent during the first nine months of current fiscal at Rs 6.56 lakh crore, the finance ministry said
Corporate income tax has fallen from a peak of 3.88 percent of GDP in 2007-2008 to 3.19 percent in 2016-2017
The net direct tax collections constitute 39.4 percent of the total budget estimate of direct taxes at Rs 9.8 lakh crore for the current fiscal
The net direct tax collection represents 14.5 percent of the total Budget Estimates of direct taxes (Rs 9.8 lakh crore) for 2017-18,
Belying fears of slowdown due to demonetisation, indirect tax collection grew at a decent 16.9 percent in January buoyed mainly by excise, reflecting an uptick in manufacturing.
Direct tax collections during the six months ended September grew about 9 percent to Rs 3.27 lakh crore, buoyed mainly by personal income tax mop-up.