Fixed yields attract investors ahead of rate cuts
Investors are rushing into fixed yield opportunities before interest rates are cut, as central banks signal looser monetary policies due to cooling inflation.
income
India’s net direct tax kitty at Rs 19.58 lakh cr, exceeds revised estimates by Rs 13k cr
India’s net direct tax collections surged by 17.7 per cent year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding the revised estimates by Rs 13,000 crore.
Direct tax collections exceed estimates in FY24; jump 18 pc to Rs 19.58 lakh crore
India’s net direct tax collections for the fiscal year ended March 2024 surged by 17.7% to Rs 19.58 crore, exceeding both Budget and revised estimates.
India’s direct tax collections surge 17.7% in FY24 to ₹19.58 tn
The Central government has collected ₹19.58 trillion in direct tax revenue in FY24 after adjusting for refunds, showing a 17.7% growth annually.
Direct tax collections jump by 18 per cent to Rs 19.58 lakh crore, exceeds estimates in FY24
The gross corporate tax collection (provisional) in FY 2023-24 was up 13.06 per cent to Rs 11.32 lakh crore.
South Carolina Legislature Forces New Standards for Forced Combination on Revenue Department | JD Supra
Fact: Under a new bill signed into law on March 11, 2024, the South Carolina Department of Revenue will have to satisfy additional standards before it may force affiliated corporate taxpayers to file a unitary combined return.
Direct tax collections exceed estimates in FY24; jump 18% to ₹19.58 lakh crore
The country’s net direct tax collections surged by 17.7% year-on-year to ₹19.58 crore in the fiscal year ended March 2024, exceeding both budget and revised estimates.
Cellnet Limited vs KRA: A triumph for tax justice
On February 2, 2024, the Tax Appeals Tribunal rendered a significant judgment in appeal No.1514 of 2022, involving Cellnet Ltd and the Kenya Revenue Authority (KRA). The Tribunal set aside 60.8 percent of KRA’s assessment of Sh12.98 million related to value-added tax, allowing only Sh5.08 million. The Tribunal found that KRA had conducted an assessment on Cellnet Ltd for a period exceeding five years, which was in violation of the Tax Procedures Act. Cellnet Ltd did not challenge this aspect of the assessment, but the Tribunal raised the issue suo moto, highlighting the importance of upholding tax justice.
Changes to capital-gains tax may prompt doctors to quit, CMA warns
Doctors in Canada are concerned about the federal government’s proposed increases to capital-gains taxes, which could have a significant financial impact on them. The changes will affect physicians who operate their practices through medical professional corporations, as they will be taxed at a higher rate on capital gains. The Canadian Medical Association conducted a survey in 2021 that found a deterioration of doctors’ mental health during the pandemic, with 47% describing themselves as “flourishing” that year, down from 63% in 2017.
Taxes should not wag the tail of the investment dog, but that’s what Trudeau wants
The Canadian federal budget includes a proposal to increase the capital gains inclusion rate to 66.7% from 50% for dispositions effective after June 24, 2024.