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Budget 2023 Exclusive: Govt may allow deductions in new income tax regime - Expectations

Budget 2023 Exclusive: Govt may allow deductions in new income tax regime - Expectations

Thu, Jan 19, 2023

Budget 2023: The government had in 2020 introduced a new tax regime. In the new regime, a taxpayer is not allowed to claim exemptions. The new tax regime has six slabs -- 5 per cent, 10 per cent, 15 per cent, 20 per cent, 25 per cent and 30 per cent. 

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Direct tax collection grows 24.58% to Rs 14.71 lakh crore till January 10

Direct tax collection grows 24.58% to Rs 14.71 lakh crore till January 10

Wed, Jan 11, 2023

Net direct tax collection, after adjusting refunds,  stood at Rs 12.31 lakh crore, 19.55 per cent higher than the net collections for the corresponding period of last year.

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Budget 2022: Minimum Corporate Tax Presented by Rajiv Gandhi in 1987-88

Budget 2022: Minimum Corporate Tax Presented by Rajiv Gandhi in 1987-88

Thu, Jan 20, 2022

Former Prime minister Rajiv Gandhi presented Minimum Corporate tax in union budget in 1987-88 as finance minister. The governemt estimates 75 crores extra revenue income from this tax only. here you know why government implement this tax in year 1987-88

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TRENDING NOW

Direct tax collections till Jan 15 rise 18.7%

Direct tax collections till Jan 15 rise 18.7%

Wed, Jan 17, 2018

There has been consistent improvement in direct tax collections during the period, says govt 

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Direct tax collections rise 18.2% in April-December 2017: FinMin

Direct tax collections rise 18.2% in April-December 2017: FinMin

Tue, Jan 09, 2018

An amount of Rs 3.18 lakh crore has been received as Advance Tax up to December, 2017 reflecting a growth of 12.7% over the Advance Tax payments of the corresponding period of last year, said the Finance Ministry statement. 

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Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Wed, Oct 11, 2017

 In the Union Budget 2017, the government has fixed direct collections target at Rs 9.8 lakh crore. So far, the govt has received Rs 3.86 lakh crore between April - September 2017. 

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Direct tax collections: Did demonetisation, GST slow personal income tax growth?

Direct tax collections: Did demonetisation, GST slow personal income tax growth?

Tue, Sep 12, 2017

Four months into this fiscal year and the direct tax collections may have increased but the percentage of personal income tax growth was less than half of the year ago period.

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Direct tax collections rise 17.5% till August, Govt says

Direct tax collections rise 17.5% till August, Govt says

Mon, Sep 11, 2017

Direct tax collections in the current fiscal till August 2017 rose 17.5%, ministry of finance said.  This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18, the statement said. 

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Issued income tax refunds to the tune of Rs 61,920 crore till July, Govt says

Issued income tax refunds to the tune of Rs 61,920 crore till July, Govt says

Wed, Aug 09, 2017

Surabhi Ahluwalia, Commissioner of Income Tax, Central Board of Direct Taxes (CBDT), in a statement on Wednesday said, "So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 7.2% while that for PIT (including STT) is 17.5%."

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Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Thu, Jul 06, 2017

Key Highlights:  Direct tax collections rose 14.8%, at Rs 1.42 lakh crore  Personal income tax rose 12.9% before refunds

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Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Fri, Mar 10, 2017

The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.

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Budget raises India's capital market ambitions

Budget raises India's capital market ambitions

Mon, Feb 06, 2017

The government intends to raise Rs 110 billion from the listing of state-owned insurance companies, Rs 465 billion from the sale of stakes in state-owned companies on local stock exchanges and Rs 150 billion from strategic sales in 2017-18. 

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Here are salient features of Direct Tax proposals of Budget 2017

Here are salient features of Direct Tax proposals of Budget 2017

Wed, Feb 01, 2017

Read salient features of Direct Tax proposals of India's Union Budget 2017-18 announced on February 1, 2017. 

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What to expect in today's Budget; a final roundup

What to expect in today's Budget; a final roundup

Wed, Feb 01, 2017

The Union Budget which will be declared on February 1, a month prior to its usual timeline will present consolidated funds for the centre as well as Indian railways.

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