Slump in corporate sector, overall slowdown in economy are key reasons, but analysts assure the slowdown is not likely to impact govt's fiscal projection for the year.
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.
Indians see West Asia as one uninterrupted wash of Islam, but the reality is more complex. For the Druze, support from Israel—where they are a recognised minority—is now critical.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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