New Delhi: The Central government has so far this year collected ₹4.62 trillion in direct taxes after adjusting for refunds, marking a 20.99% growth annually, the Central Board of Direct Taxes (CBDT) said on Tuesday quoting provisional figures. This includes corporate taxes of ₹1.8 trillion and personal income tax of ₹2.81 trillion. The personal income tax … Read more
New Delhi, Jun 18 (PTI) Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates. The first instalment of advance tax, which was due on June 15, showed collection rose 27.34 per cent to Rs 1.48 lakh crore. This … Read more
Direct tax collections are off to a brisk start in the first quarter of this year, with net taxes rising 21% to almost ₹4.63 lakh crore by June 17, from ₹3.82 lakh crore over the same period a year ago, the Finance Ministry said on Tuesday.Personal Income Tax (PIT) and Securities Transaction Tax (STT) inflows … Read more
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.The first instalment of advance tax, which was due on June 15, showed collection rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs … Read more
By Naeem Aslam European and US futures are trading close to the flatline, as investors continue to argue that the current rally has taken the price action too high and too fast. If you look at the major stock indices, such as the S&P500 or the Nasdaq 100, you will see that these majors have … Read more
The Central government is likely to announce India’s adoption of “Pillar-2” tax regime anchored by the Organisation for Economic Cooperation and Development (OECD) in the coming Budget, as part of the country’s efforts to support and benefit from the global system combating tax avoidance.The Finance Bill, 2024, passed after the interim Budget presentation, will be … Read more
WASHINGTON (AP) — Former President Donald Trump told an influential group of CEOs that he wants to further cut the corporate tax rate he lowered while in office, while President Joe Biden’s chief of staff separately told them that the Democratic incumbent’s emphasis on global alliances would help their businesses.Both Trump, the presumptive Republican nominee, … Read more
By Nancy Cook and Justin Sink, Bloomberg News (TNS) Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest U.S. companies that he already slashed while president, according to people familiar with the remarks. The presumptive Republican presidential nominee pitched his support for cutting the business … Read more
President Trump called for cutting the corporate income tax below the current 21% rate at a Business Roundtable event Thursday, according to multiple news reports. Grover Norquist, President of Americans for Tax Reform, issued the following statement applauding President Trump’s call to further lower the corporate rate: “Trump knows workers, retirees, and households pay the … Read more
The abolition of US federal income tax would lead to a shortfall of $2.1 trillion in government revenues, according to an expert read moreFormer US President Donald Trump has proposed abolishing federal income tax if he wins the US presidential election.Trump is the presumptive presidential nominee of the Republican Party and is running against current … Read more