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Wednesday, July 06, 2022

direct taxes


Direct tax collections at Rs 9.45 lakh crore in FY21, exceeds revised estimates: FinMin

April 09, 2021 1:13 pm

Direct Tax collection: The net direct tax collections include Corporation Tax (CIT) at Rs 4.57 lakh crore and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs 4.88 lakh crore.

Good steps on tax

August 14, 2020 10:46 am

Faceless assessment and appeal, random allocation of cases, anonymity — these can help reduce taxpayer harassment.

India faces first fall in direct taxes in at least two decades

January 24, 2020 4:14 pm

The tax department had managed to collect only 7.3 trillion rupees as of Jan. 23, more than 5.5% below the amount collected by the same point last year, said a senior tax official.

FY19 I-T return filing due date extended till August 31

July 24, 2019 4:26 am

The new rule of mandatory filing of I-T return by July 31 for these category of taxpayers had kicked in last year.

CBDT to field officials: Check bank, property details during assessment

June 08, 2015 6:27 am

The tax officials have also been asked to give due attention to writing off the arrears by identifying tax demand that can’t be collected

I-T dept releases list of 18 defaulters who owe Rs500 crore

March 27, 2015 1:46 am

The department has tried to “name and shame the defaulters into paying the dues”, a source said. The CBDT has asked the defaulters to pay tax arrears immediately.

CBDT notifies rules for roll back provisions under transfer pricing pacts

March 17, 2015 1:43 am

The rules will, however, not apply if the matter is the subject of appeal before the income tax appellate tribunal (ITAT) or if any other tribunal has passed an order disposing off such an appeal.

Meet targets, but don’t harass taxpayers: CBDT

August 08, 2014 1:44 am

The CBDT chairman’s comments reflect concerns over the impact of a continuing weakness in the economy on revenue collections.

CAs protest inclusion of other professionals under ‘accountant’

April 21, 2014 12:02 am

The draft of the DTC, placed for public comments early this month, proposes to widen the scope of the definition of accountant to include other professionals as well.

Interim budget: Chidambaram slashes excise duty for automobiles, leaves taxes unchanged

February 17, 2014 2:43 pm

Small cars, motorcycles, scooters and commercial vehicles will attract a lower excise duty of 8 per cent.