Tag: direct tax
fdi: Angel Tax on multinational companies may bedevil FDI
US-based multinationals, British companies and leading French industrial groups that have closely held subsidiaries in India will face so-called angel tax scrutiny if they bring…
Tax collection in India one of the highest, reduce direct tax to 25 pc from 40 pc: Surjit Bhalla
While India is not the richest country in the world, the tax collection here is one of the highest and the income tax rate should…
I-T department invites comments on draft rules for valuing startup investment by non-residents
The income tax department on Friday invited comments from stakeholders on rules for valuing non-resident investment in unlisted startups. The Central Board of Direct Taxes…
angel tax startups: For VCs, renewed angel tax kills devil in details
Venture capital (VC) investors welcomed the changes proposed by the government to angel tax provisions that were originally announced in the Union budget for 2023-24,…
gst: Centre, state tax officers launch special drive to identify fake GST registration, curb evasion
With GST evasion crossing over Rs 1 lakh crore in 2022-23, Centre and state tax officers have initiated a two-month long special drive to identify…
Personal income tax to GDP ratio rises to 2.94 per cent in FY22
Personal income tax as a percentage of GDP has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating…
Income Tax Department: No proposal before govt for overhaul of capital gains tax, clarifies I-T dept
The Income Tax Department of India stated on Tuesday that there is currently no proposal before the government regarding the capital gains tax. “It is…
cbse: FinMin exempts CBSE from paying income tax with retrospective effect from FY21 till FY25
The Finance Ministry has exempted the Central Board of Secondary Education (CBSE) from paying income tax on earnings from examination fees, sale of text books…
I-T dept notifies Cost Inflation Index for current fiscal
The Income Tax Department has notified the Cost Inflation Index for the current fiscal beginning April 2023, for calculating long-term capital gains arising from sale…
Employee nod must on choice of tax regime
Employers will now have to seek employees’ preferred choice of tax regime before deducting tax at source from salary, according to a Central Board of…