Tag: direct tax
Budget Expectations: Realtors push for affordable housing, homebuyer tax incentives in Budget 2024
Budget 2024 Expectations: Realty developers’ body Confederation of Real Estate Developers’ Associations of India (CREDAI) has urged the government to make strategic interventions to further…
14% taxpayers won’t be able to meet ITR filing deadline of July 31, 2023: Survey
More than 5 crore income tax returns (ITRs) have been filed as on July 27, 2023 and 2.6 crore have verified it. This data is…
India tightens norms to plug likely tax swindling efforts via donations to trusts
The Central Board of Direct Taxes has tightened norms for charitable, religious, and educational trusts with their their income tax returns, months after suspecting large…
Donor disclosure rules tightened for trusts
Charitable, religious and educational trusts will now have to provide additional disclosures with their income-tax returns including name, address and permanent account numbers of donors…
Why has India’s corporate tax mop-up failed to match the pace of personal income-tax collection?
Back in 2010-11, India’s corporate tax mop-up was twice its personal income tax (PIT) collection. Now both are almost equal. In the past decade, the…
New Tax Regime: I-T issues rules for pros to switch between old, new tax regimes
New Delhi: Consultants, professionals and individuals with income from businesses will now be able to opt for the old tax regime in the current financial…
Net direct tax collection rises 11 pc to Rs 3.80 lakh cr, so for in FY24: FinMin
Net direct tax collection so far this fiscal grew 11 per cent to reach Rs 3.80 lakh crore, the ministry of finance said on Sunday….
Advance tax Mop-up rises 15% in June qtr
New Delhi: India‘s advance tax collections for FY24 rose 15% in June quarter from a year earlier to ₹1.15 lakh crore, people aware of the…
Final Cost Inflation Index for FY24 to be fixed at 348
Finance Ministry has notified the final Cost Inflation Index (CII) for FY24 (Assessment Year 2024-25) at 348, same as the provisional index notified in April….
e appeals scheme: CBDT notifies e appeals scheme 2023
New Delhi: The Central Board of Direct Taxes (CBDT) on Tuesday launched “e appeal” scheme announced in the budget to reduce pendency of appeals related…