Tag: income tax
India’s direct tax collections up 24% to Rs 15.67 lakh crore till February 10
India’s Direct Tax collections, which includes corporate and personal income tax, continue to register steady growth. According to latest govt data, Direct Tax collections up…
A big picture analysis of India’s direct tax base
A higher share of direct taxes is considered a hallmark of progressive tax burden. This is because direct tax burden increases as income/wealth of the…
angel tax: Exclusive: Valuation rules to be scanned for Angel Tax on foreign Investments
India will investigate the valuation rules for the so-called ‘angel tax’ on investments by overseas investors in start-ups. A senior official said the government is…
Budget 2023: What are the changes in new tax regime? Expert explains
Union finance minister Nirmala Sitharaman said the new tax system will be the default, with the old system remaining an option. Presenting the last full…
startups in india: Proposed changes in income tax law for startups would bring in ‘parity between domestic, foreign investors’
The proposed changes in the income tax law with regard to startups would bring in parity between domestic and foreign investors, a top government official…
startups in india: No angel tax on past foreign investments in startups
India will provide grandfathering to past investments by non-residents in startups and the proposed changes to the angel tax provision were prospective said Central Board…
1 crore in Rs 5-7 lakh income range set to gain from new tax regime
(This story originally appeared in on Feb 03, 2023) NEW DELHI: Close to one crore individuals in the Rs 5-7 lakh income range stand to…
new tax regime: Confident that 50% taxpayers will shift to new regime Now: Revenue Secretary Sanjay Malhotra
The government is confident that more than 50% taxpayers will shift to the new income-tax regime that has been made more attractive in the latest…
Income Tax Collection: I-T Department spends 57 paise for every Rs 100 of tax collection: Official
Income-tax collection cost that the I-T Department incurs in the country is one of the lowest in the world at Rs 0.57 for every Rs…
budget angel tax: ETtech Explainer: Has the Budget 2023-24 resurrected ‘angel tax’?
The Finance Bill, 2023 has proposed bringing non-resident investors in unlisted companies under the ambit of Section 56 (2) (viib) of the Income Tax Act,…