ANI | Jun 18, 2024 07:58 PM IST Share Via Copy Link The increase in both personal income and corporate tax collections points towards a growing corporate sector and higher income levels among individuals. The Ministry of Finance has announced a robust growth in India’s direct tax collections for the financial year 2024-25, with net … Read more
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
3. VAT on Private Schools The Labour Party have announced its proposal to end the VAT exemption on fees for private schools if they win the next general election. Currently private schools benefit from an exemption from VAT by two means: the first is under the general exemption for the provision of education by eligible … Read more
Massachusetts collected $260 million less in tax revenue in May. But the state is still ahead of projections for the year as lawmakers head into the final furlong of budget season.The state collected nearly $2.5 billion last month, according to new state Revenue Department data. That’s 9.6% less than actual collections in May 2023, and … Read more
State economists Mark McMullen, left, and Josh Lehner answer questions from Oregon lawmakers in 2015. McMullen gave his final economic and revenue forecast to a legislative committee on Wednesday.Jonathan J. Cooper / AP Oregon economists offered caution Wednesday that a financial rough patch could be on the horizon — but that might not be enough … Read more
NRIs need to pay tax on income that arises in India for the financial year of 2023, which runs from April 1, 2022, to March 31, 2023.
FTI, a German tourism company, has filed for bankruptcy after failed negotiations with the government. The bankruptcy affects 11,000 employees and many travelers who have booked trips. The company had been struggling even before the pandemic and had received financial support from the government and other sources. Efforts are being made to ensure that current vacations can be completed and refunds will be handled by the Travel Insurance Fund.