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New Delhi: The net direct tax collection saw strong growth in FY25 at Rs 22,26,375 crore, a 13.48 per cent year-on-year growth, as there has been an overall increase in collections after reduction of the corporate tax rates with effect from Assessment year (AY) 2020-21, the Parliament was informed on Monday. Since FY 2021-22, the…
New Delhi: India’s net direct tax collections, comprising corporate tax and personal income tax, shot up by a robust 15.4 per cent to Rs 12.1 lakh crore, from April 1 to November 10 during the current financial year, according to the latest figures released by the Central Board of Direct Taxes (CBDT). On a gross…
New Delhi: India’s net direct tax collection for the financial year 2024-25 has seen a significant surge, with an increase of 18.35 per cent to almost Rs 11.26 lakh crore year on year, as of 10 October, the data from the Central Board of Direct Taxes (CBDT) shows. The gross collection of direct tax grew…
New Delhi: The Supreme Court has disposed of 573 direct tax cases where the tax effect is less than Rs 5 crore, following the revised monetary limit for filing appeals, the Ministry of Finance said in a statement on Tuesday. This move aligns with the government’s efforts to reduce tax litigation and promote the Ease…
Vishwas Vivad Se Vishwas Scheme 2024: The Central Board of Direct Taxes (CBDT) has announced the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV), which will take effect on October 1, 2024. The Direct Tax Vivad Se Vishwas scheme aims to reduce income tax litigation by enabling taxpayers to resolve pending income tax appeals, writs,…