Personal Income Tax

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

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

India may miss tax collection target for 2019-20 by Rs 2.5 lakh cr; it's time to junk DDT, reform personal income tax: SC Garg

The government had budgeted gross tax revenues of Rs 24.59 lakh crore.

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

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

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

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

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-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 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.