Personal Income-tax

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Personal Income-tax - Total results - 24
Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates
Business

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates

Nirmala Sitharaman, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT
Business

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT

The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday

Budget proposals on DDT, personal tax not to impact MF industry: Franklin Templeton Mutual Fund
Business

Budget proposals on DDT, personal tax not to impact MF industry: Franklin Templeton Mutual Fund

The proposed changes in Dividend Distribution Tax (DDT) and the new income tax system announced in the budget will not have any adverse impact on the mutual fund industry that showed resilience and maintained robust growth amid economic headwinds, a senior mutual fund official said

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation
Business

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation

The government is unlikely to moderate personal income tax rates for the rich due to fiscal stress on account of lower tax realisation amid a slowdown in the economy, sources said

Govt should provide more stimulus; lower personal income tax to boost slowing growth rate of economy: Adi Godrej
Business

Govt should provide more stimulus; lower personal income tax to boost slowing growth rate of economy: Adi Godrej

The government should provide more stimulus to the industry and bring down personal tax rates to boost slowing growth rate of the economy, Godrej Group Chairman Adi Godrej said on Thursday

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending
Business

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending

Introduction of 10% tax rate for salaried people who earn between Rs 5 lakh and Rs 10 lakh is one of the recommendations

Govt close to meeting fiscal deficit target of 3.4%; some numbers are still to come, says SC Garg
Business

Govt close to meeting fiscal deficit target of 3.4%; some numbers are still to come, says SC Garg

The government in the interim Budget in February revised upward the fiscal deficit target to 3.4 percent from 3.3 percent of GDP

Budget 2019: PHD Chamber expects reforms in farm sector, rationalisation of direct taxes; says bold steps essential to boost investment
Business

Budget 2019: PHD Chamber expects reforms in farm sector, rationalisation of direct taxes; says bold steps essential to boost investment

Consistent 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.

Direct tax mop up rises 14.1% to Rs 8.74 lakh cr during Apr-Dec 2018; net collections increase by 13.6% to Rs 7.43 lakh cr
Business

Direct tax mop up rises 14.1% to Rs 8.74 lakh cr during Apr-Dec 2018; net collections increase by 13.6% to Rs 7.43 lakh cr

The gross collections for corporate tax is 14.8 per cent while that for personal income tax is 17.2 percent.

Direct tax-GDP ratio of 5.98% during FY18 best in a decade; returns filings up 80% in last four years: Finance ministry
Business

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.

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

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.

Budget 2018: FM Arun Jaitley reduces corporate tax rate to 25% for Rs 250 cr turnover
Business

Budget 2018: FM Arun Jaitley reduces corporate tax rate to 25% for Rs 250 cr turnover

Lowering of corporate tax is in tune with Arun Jaitley's promise in 2015-16 Budget.

Tax to GDP ratio: Personal income tax comes to Narendra Modi govt's rescue as corporate tax falls
Business

Tax to GDP ratio: Personal income tax comes to Narendra Modi govt's rescue as corporate tax falls

Corporate income tax has fallen from a peak of 3.88 percent of GDP in 2007-2008 to 3.19 percent in 2016-2017

Direct tax collections jump 16% to Rs 3.86 lakh cr in Apr-Sep: Finance ministry
Business

Direct tax collections jump 16% to Rs 3.86 lakh cr in Apr-Sep: Finance ministry

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

Net direct tax collection rises 14.8% to Rs 1.42 lakh cr in Q1, 5.2% drop in refunds
Business

Net direct tax collection rises 14.8% to Rs 1.42 lakh cr in Q1, 5.2% drop in refunds

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,

Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%
Business

Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%

The total direct tax of Rs 6.17 lakh crore and indirect tax mop-up was Rs 7.72 lakh crore, led by robust collections in personal income tax and excise duty, respectively.

Indirect tax revenue grows 24% in Apr-Jan; direct tax up 10.79%
Business

Indirect tax revenue grows 24% in Apr-Jan; direct tax up 10.79%

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.

Budget may increase income tax exemption limit to Rs 3 lakh from Rs 2.5 lakh, says SBI report
Business

Budget may increase income tax exemption limit to Rs 3 lakh from Rs 2.5 lakh, says SBI report

According to SBI's research report Ecowrap, the upcoming budget is likely to see an increase in personal income tax exemption limit, increase in section 80C exemption limit, interest exemption on housing loan and and at least reducing (if not abolishing) the lock in period for bank fixed deposits

Budget 2017: Govt may cut personal income, corporate tax rates to boost economy
Business

Budget 2017: Govt may cut personal income, corporate tax rates to boost economy

Among the measures expected, the finance minister may look at putting in more cash in the hands of individuals by reducing the personal income tax slabs