Monday, 27 June, 2022
TopicDirect taxes

Topic: Direct taxes

CBDT extends due dates under Direct Tax ‘Vivad se Vishwas’ Act, 2020 till 30 September

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.

India’s direct tax collections double to more than Rs 1.85 lakh crore in 2021-22

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.

Budget 2021 is taxpayer friendly — plugs abuse of welfare schemes, respects honest taxpayers

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.

Direct tax collection contracts in April-Feb period, Rs 3.5 lakh crore now needed in March

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.

Ayodhya Trust, Kejriwal on front page, pink papers divided on ‘Vivad se Vishwas’ bill

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.

Slow growth in tax collections rings alarm bells, govt forms committee to augment revenues

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.

Modi’s new govt plans to cut income tax rates, widen tax base

Direct tax reform to take centre stage in Modi's second term. Taxation process to be eased for honest taxpayers.

CBDT raises alarm as direct tax collection falls 15% short of target

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. 

Modi govt says it’s within its rights to make tax announcements in interim budget

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.

Piyush Goyal asks tax officers to refrain from being overzealous

The cabinet minister asked taxmen to trust customers with a great degree of intelligence, while adopting a customer-friendly approach.

On Camera

YourTurn

Illustration: Ramandeep Kaur | ThePrint

Does breaking up big states boost economy? Data doesn’t back up hype, says Indian study

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.

Defence

The Indian Air Force logo | Commons

Almost 4,000 enrol for IAF’s Agnipath recruitment scheme on day 1 of online registrations

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.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

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.
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