The I-T dept Thursday released time-series data on direct tax collections between 2000-01 & 2023-24, showing an increasing reliance on direct taxes versus indirect taxes.
Rules will apply only to people involved in serious financial irregularities, or those with significant income tax dues pending, according to a change proposed by govt last week.
Given the weakness in consumption and elevated inflation, Budget 2024 was expected to provide a cushion to individual taxpayers. Some comfort has been provided to those who opt for the new tax regime.
July 2024 was first time no official release on GST collections was issued. Collections were Rs 1.74 lakh crore in June & average collections this fiscal yr are highest ever, it is learnt.
Madhya Pradesh government paid Rs 79.07 lakh towards income tax of its ministers in 2023-24, it is learnt, and figure for the past five years cumulatively stood at Rs 3.17 crore.
A government can afford to make tough decisions in its early days. Resisting populist concerns, we need long-term reform such as broadening the tax base and removing deductions.
Report released by State Bank of India Monday shows that those at the bottom of India’s tax slabs have seen incomes grow, while the share of 'ultra-rich' in total income has fallen.
An income tax department operation under way for a week and counting has been in the news for seizures described as being34weds among the highest ever.
Data presented in Parliament shows income tax compliance is increasing due to govt making better use of GST data & TDS mechanism, but bulk of tax filers have 0 tax incidence.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Using this technology, IDF carried out fully robotic combat missions, drastically reducing risk to Israeli troops. The robotic combat task force also enhanced situational awareness.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
The govt must hike the corporate tax steeply. Corporates are not investing. Neither are they creating enough jobs for the labour force.
They simply do not deserve the low tax rate they have enjoyed over the last 10 years under the BJP govt. It’s high time the govt hikes it.
The govt must hike the corporate tax steeply. Corporates are not investing. Neither are they creating enough jobs for the labour force.
They simply do not deserve the low tax rate they have enjoyed over the last 10 years under the BJP govt. It’s high time the govt hikes it.