Direct Tax Collections

Govt mops up Rs 6 lakh cr in direct tax collection so far, less than 50% of Rs 13.35 lakh cr target set for current year

The government has so far mopped up Rs 6 lakh crore or less than 50 percent of the total tax collection target of Rs 13.35 lakh crore for the current fiscal, a senior official said

Direct tax collection target of Rs 13.35 lakh cr for current financial year is achievable: CBDT chairman PC Mody

The government has re-calibrated and fixed the direct taxes collection target for this financial year at Rs 13.35 lakh crore, a task that the CBDT chief said is difficult but achievable

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

The government is estimated to have witnessed a shortfall of Rs 50,000 crore in direct tax collection target of Rs 12 lakh crore for 2018-19, a senior finance ministry official said on Tuesday

1.07 crore new taxpayers added, dropped filers down at 25.22 lakh in 2017-18: Central Board Of Direct Taxes

CBDT said 6.87 crore Income Tax Returns (ITRs) were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17

Govt pushes cash-rich IOC, ONGC to pay second interim dividend for this fiscal as revenue shortfall widens

As per regulations, a company cannot declare a second dividend within a month of the previous payout and companies like ONGC would need to seek an approval of SEBI to make such a payment.

Suspicious income tax refund claims under scanner as numbers rise; I-T returns filings up 37% till January: Govt

Minister of State for Finance Shiv Pratap Shukla in a written reply to a question in Rajya Sabha said there has been an increase in detection of suspicious income tax refund claims.

Direct tax collections surge 15.7% to Rs 6.75 lakh cr in April-November, says finance ministry

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

CAD may narrow to 2.6% of GDP in FY19 on falling crude; direct tax collections likely to be higher: SBI report

Total receipts for the six months period is Rs 7.09 lakh crore (39 percent of BE) and the total expenditure is estimated at Rs 13.04 lakh crore (53.4 percent of BE).

India ranks 77 in Ease of Doing Business: Between World Bank ranking and RBI-govt turf war, economy needs careful watch

The government is understandably preening over India having moved up 23 places to rank 77th in the World Bank’s Doing Business rankings of the World Bank.

Petrol, diesel prices cut updates: 10 states reduce fuel cost; Mamata says Centre not bothered about masses

Arun Jaitley press briefing LIVE updates: Finance Minister Arun Jaitley will hold a press briefing today where he is likely to address a number of issues including the rising fuel prices especially after a last-minute meeting with oil minister Dharmendra Pradhan last evening