Considering the difficulties being faced in issuing and amending Form no 3—which is a prerequisite for making payment by the declarant - the last date has been extended, CBDT said.
The gross collection of direct taxes for this fiscal stood at over Rs 2.16 lakh crore, compared to Rs 1.37 lakh crore in the corresponding period of the preceding year.
Nirmala Sitharaman's Budget proposals regarding investment in infrastructure, heath and other sectors are capital intensive and will usher significant funds in the Indian economy.
A slowdown in economic activity is likely to further hit collections. Modi govt is banking on positive response to dispute resolution scheme to meet targets.
A round-up of the most important reports in major newspapers around the country – from TOI and HT, Express and The Hindu to The Telegraph, Mumbai Mirror and The Tribune, as well as top financial dailies.
Direct tax collections are growing at around 5% against a budgeted 17% growth and GST revenues have been growing at nearly 12% against a budgeted 15% growth.
CBDT member Neena Kumar has said as against the budget collection target of Rs 12,00,000 crore, only 85.1% of the target has been collected as on 23 March.
If govt thinks there's a pressing issue, it's perfectly legitimate to make tax announcements in interim budget, says economic affairs secretary Subhash Garg.
The study by researchers at Indira Gandhi Institute of Development Research looked at economic impact of reorganising Uttar Pradesh, Madhya Pradesh, and Bihar in the year 2000.
These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.
Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.