Latest News on Direct Taxes
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Direct Taxes - Total results - 33
Feb 07, 2019
Union Cabinet approves abolition of Ombudsman for direct, indirect taxes; people prefer online redressal mechanismThe institution of Income Tax Ombudsman was set up in 2003 to deal with grievances of public related to settlement of complaints relating to income tax.
Jan 21, 2019
Budget 2019: PHD Chamber expects reforms in farm sector, rationalisation of direct taxes; says bold steps essential to boost investmentConsistent indirect tax revenue growth along with reduction in GST rates by the government indicates that the tax base is widening and economic activity is rapidly expanding in India, it said.
Dec 10, 2018
Direct tax collections surge 15.7% to Rs 6.75 lakh cr in April-November, says finance ministryGross collections in corporate income tax (CIT) and personal income tax (PIT) grew 17.7 percent and 18.3 percent, respectively.
Oct 22, 2018
Net direct tax collection grows 15.7% to Rs 4.89-lakh cr till third week of October: CBDTRs 4.89-lakh cr accounted for 42 percent of the full-year direct tax collection target of Rs 11.5 lakh crore for the fiscal ending 31 March, 2019
Oct 08, 2018
Petrol, diesel rates on the rise again: Knee-jerk cut in taxes may calm down public temper transiently but makes little economic sensePetroleum products are sitting ducks in view of their inelastic demand which emboldens the government to tax it as it pleases as evident by the approximate 25 percent central excise and approximate 25 percent state VAT on petroleum products together accounting for nearly 50 percent of the petrol bunk price
Oct 04, 2018
Gross direct tax collection grows 16.7% to Rs 5.47 lakh cr in Apr-Sep: Finance ministryNet tax collections (after adjusting for refunds) have increased by 14 percent to Rs 4.44 lakh crore during April, 2018 to September, 2018.
Mar 31, 2018
If the Income Tax Department can go to town, the RBI too could name and shame defaultersNaming and shaming has greater justification in the context of loan defaults vis-à-vis income tax defaults.
Mar 23, 2018
If government wants to earn more tax, taxmen need to stop harassing taxpayersTax laws need to be simplified, so as to disincentivise taxmen from litigating and continuing to litigate at the drop of a hat.
Feb 06, 2018
Bitcoin investments under I-T dept's radar; CBDT sends out notices, says profits from crypto currency trading taxableFinance Minister Arun Jaitley said in his Budget speech earlier this month that all crypto currencies, which include bitcoins, are illegal
Jan 31, 2018
Budget 2018: Government may peg fiscal deficit above 3.2% of GDP for FY2018-19Budget 2018 is likely to focus on enhancement of spending rather than a reduction of direct taxes, and therefore, the chances of achieving the fiscal target of 3.2 percent for FY 2017-18 and 3.0 percent for FY 2018-19 appears low