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Direct tax
DIRECT TAX NEWS
Centre’s FY25 net tax collections miss revised estimate by over Rs 58,000 crore
May 31, 2025 12:22 am
Direct tax, excise collections post misses
Income Tax Department extends return filing deadline for individuals to September 15 from July 31
May 27, 2025 7:05 pm
Individuals and entities, who do not need to get their accounts audited, are required to file income tax returns (ITR) by July 31.
Dis/Agree: Taxing the rich more will reduce inequality
December 27, 2024 1:51 pm
It is often argued that implementing a wealth tax is not administratively feasible or will deter investment from trickling down. Yet, much of the international community proves the contrary. There is no excuse now for the Narendra Modi government to avoid doing it
Low productivity trap, inability to expand tax base risks if top 500/ 1,000 richest persons not taxed at higher rate: Piketty
December 17, 2024 10:48 pm
In an interview with The Indian Express, Piketty, who teaches at the Paris School of Economics, says not taxing top 500 or 1,000 billionaires may leave a country in a low productivity trap, and not manoeuver space to expand the tax base
After revision of monetary limits for tax appeals, SC strikes off 573 direct tax cases
September 25, 2024 8:42 am
The Finance Ministry said the measures are expected to “significantly reduce the burden of tax litigation and expedite the resolution of tax disputes” in alignment with the government’s efforts to promote ‘Ease of Living’ and ‘Ease of Doing Business’.
Direct tax collections up 18% in FY24, top revised budget estimate
April 21, 2024 4:12 pm
At gross level, which is before adjusting for refunds, direct taxes collections for FY 2023-24 stood at Rs 23.37 lakh crore, a growth of 18.48 per cent over the gross collection of Rs 19.72 lakh crore in previous financial year.
Direct tax collection grows 20 pc to Rs 18.90 lakh cr till Mar 17
March 19, 2024 10:17 pm
On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore, an 18.74 per cent growth over the year-ago period.
Net direct tax collection reaches Rs 13.73 lakh crore
March 12, 2023 12:06 am
The growth in direct tax collections, which comprises personal income tax and corporate taxes, was driven mainly by increase in income tax collections. On a gross basis, the collections grew 22.58 per cent to Rs 16.68 lakh crore.
What to expect on direct tax in Union Budget 2023
January 16, 2023 2:58 pm
India’s tax-to-GDP ratio stands at 10-11%, which is significantly lower than the average of other emerging economies where it is 21% of GDP, while the corresponding ratio for OECD nations is 33%.
Direct tax growth in Covid year: Maharashtra, Gujarat, TN, Delhi & Karnataka make up 73% of mop up
December 28, 2022 9:41 am
The northeastern states of Nagaland, Mizoram, and Manipur also witnessed an increase in tax collections, while Sikkim and Meghalaya posted a decline during the same period.
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