Direct tax collections likely to drop in current fiscal year, first fall in at least two decades, IT dept receives only Rs 7.3 lakh cr so far
India’s corporate and income tax collection for the current year is likely to fall for the first time in at least two decades, over half a dozen senior tax officials told Reuters, amid a sharp fall in economic growth and cut in corporate tax rates
India's economic growth likely to slow further in second half of 2019 on weakness in consumption sector: DBS
Weakness in the crucial consumption sector is likely to be extended into the quarter along with tepid private sector activity.
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
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.
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
Net tax collections (after adjusting for refunds) have increased by 14 percent to Rs 4.44 lakh crore during April, 2018 to September, 2018.
Karnataka polls: Foreign media’s thumbs up to Narendra Modi on demonetisation, GST comes at the right time for BJP
A thumbs up from the FT on an expanding tax base serves as a solid weapon for Modi and the BJP against their critics, ahead of the crucial Karnataka elections.
The yields on government bonds have surged by more than 100 basis points (100 basis points is equal to 1 percent) since August 2017.
Direct tax collections jump 19% to Rs 6.89 lakh cr this fiscal; gross collections up 13.5% to Rs 8.11 lakh cr
CBDT says there has been consistent and significant improvement in the position of direct tax collections during the current fiscal
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
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
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.
Net direct tax collections during the April-August period has grown 15.03 per cent to Rs 1.89 lakh crore, led by robust collections in personal income tax