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TAXATION NEWS

P Chidambaram writes: State of economy before the Budget

January 26, 2025 5:41 pm

The government has acquired the tag of being pro-corporates and pro-cronies. Corporate profits amounted to Rs 10,88,000 crore in 2022-23 and rose to Rs 14,11,000 crore in 2023-24. During the two years, scheduled commercial banks wrote off loans to corporates amounting to Rs 2,09,144 crore and Rs 1,70,000 crore, respectively

How not to tax multi-national corporations

August 24, 2024 10:45 am

The UN is poised to assume prominence in international tax negotiations. However, two critical aspects will determine its fate

Revenue Secretary Sanjay Malhotra, Income-tax Act, comprehensive review, new tax code, tax regime, tax authorities, taxation, Indian express news

‘Purpose of comprehensive review of Income-tax Act is to ease, simplify taxation’: Revenue Secretary Sanjay Malhotra

July 31, 2024 7:36 am

In an interview with Aanchal Magazine, Malhotra said the purpose is to make the tax regime simple, easy to read, understand, while making it easy to implement for the tax authorities, thereby reducing litigation and disputes.

GST collections rise 11.5% in May

June 01, 2023 8:23 pm

Experts said the double-digit growth is likely to continue for next few months with more anti-evasion measures such as the drive against fake registrations being taken by the indirect tax authorities.

Tax benefits for debt mutual funds scrapped: Experts say more money to flow away from MFs back into deposits

March 31, 2023 10:46 am

As per the proposed changes in the Finance Bill 2023, the tax advantage on debt mutual funds for investments made on or after April 1 will no longer be available.

Tax devolution, taxation, Controller General of Accounts, Business news, Indian express, Current Affairs

Tax devolution: Govt releases Rs 1.40 lakh cr to states

March 11, 2023 11:44 am

As per data by Controller General of Accounts, the Centre has devolved Rs 6.68 lakh crore to states in the current financial year during April-January, up 22.4 per cent from last year.

GST revenues grow 15 pc to nearly Rs 1.50 lakh cr in December

January 01, 2023 5:56 pm

The revenues for December 2022 are 15 per cent higher than the GST collection in the same month last year, which itself was close to Rs 1.30 lakh crore.