India’s net direct tax collection recorded a significant growth of 19.54 per cent in FY25, amounting to Rs 5.74 lakh crore as of July 11, according to the data released by the income tax department on Friday.The net direct tax collection stood at Rs 4.80 lakh crore in FY24 during the same period, marking a … Read more
Net direct tax collection grew 19.54% to over ₹5.74 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, rose 27.34% to ₹1.48 lakh crore. This includes Corporation Income Tax (CIT) at ₹1.14 lakh crore and Personal Income Tax (PIT) … Read more
Net direct tax collection grew 19.54 per cent to over ₹5.74 lakh crore so far this fiscal on higher advance tax payments by corporates. Also read: Union Budget should focus on fiscal prudence, tax restructuring, agriculture reforms: SBI Research The first instalment of advance tax, which was due on June 15, rose 27.34 per cent … Read more
Net direct tax collection grew 19.54 per cent to over Rs 5.74 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, rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs 1.14 lakh … Read more
Direct tax collection: The Central Board of Direct Taxes on Friday released the data on Direct Tax (DT) collections till July 11, 2024, for FY 2024-25. The net direct tax collections have increased by 24.07% to Rs 5.74 lakh crore. In FY23, the net collections stood at Rs 4.80 lakh crore. This includes corporate taxes of Rs … Read more
Growth in India’s net direct tax collections slowed slightly to 19.54% by July 11, relative to a 21% rise recorded by June 17, with revenues hitting ₹5.74 lakh crore, the Income Tax department said on Friday.Personal income tax (PIT) receipts constituted 60.2% of the net collections at ₹3.46 lakh crore, rising 21.4% year-on-year, while corporate … Read more
Oman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the sultanate. BloombergOman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the … Read more
(The Center Square) — Several tax changes took effect on Monday, the start of fiscal 2025, including a decrease in Georgia’s personal and corporate income tax rates. House Bill 1015 lowers Georgia’s personal income tax rate to 5.39% from 5.49%, while HB 1023 sets the corporate income tax rate — previously 5.75% — to the same level as … Read more
Arkansas Enacts Fourth Tax Cut in Less than Two Years Skip to content Home • Blog • Arkansas Enacts Fourth Tax Cut in Less than Two Years Arkansas Governor Sarah Huckabee Sanders (R) recently called a brief special legislative session to enact the fourth round of reductions to the Natural State’s individual and corporate income … Read more
Wealth Tax Impact: Details & Analysis | Tax Foundation Skip to content Colombia, Norway, Spain, and Switzerland. Countries have repealed their wealth taxes for a variety of reasons. They raise little revenue, create high administrative costs, and induce an outflow of wealthy individuals and their money. Many policymakers have also recognized that high taxes on … Read more