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Page 5 - Latest Updates on Direct Tax

Happy that govt announced long-awaited taxation reform, says VP Naidu

Vice President M Venkaiah Naidu on Thursday said the "long-awaited" taxation reform announced by the government would lead to greater compliance of tax laws

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Updated On : 13 Aug 2020 | 4:36 PM IST

Rights & responsibilities of citizens in new taxpayers' charter: Full text

PM Modi said the charter had been introduced with defined rights and responsibilities. Read the full text of the tax charter document here

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Updated On : 13 Aug 2020 | 2:53 PM IST

Cross-border tax disputes: ITAT orders to overrule MAP outcomes, says CBDT

Direct tax board issues detailed guidance on mutual agreement procedure, or MAP

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Updated On : 09 Aug 2020 | 11:52 AM IST

Meghalaya govt okays amnesty scheme for taxpayers to pay outstanding dues

The Meghalaya Cabinet has approved an amnesty scheme for taxpayers to pay their outstanding dues to the state government

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Updated On : 10 Jul 2020 | 1:07 PM IST

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

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Updated On : 03 Jul 2020 | 10:52 PM IST

How to claim income tax deduction for investments made in April - July 2020

One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21

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Updated On : 02 Jul 2020 | 4:48 PM IST

Income tax exemptions to lower tax assessee for certain allowances

The Budget for 2020-21 came out with an option of lower tax regime for those who forgo certain exemptions

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Updated On : 27 Jun 2020 | 11:35 PM IST

NTPC Q4 net profit declines 70% to Rs 1,523 cr on higher tax provision

Total income was Rs 31,315.32 crore in the period under review, compared to Rs 26,116.15 crore in the year-ago period

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Updated On : 27 Jun 2020 | 6:49 PM IST

Advance tax collection falls 31% in Q1, corporation tax mop-up down 79%

Gross direct tax collection fell a full 31% to Rs 1,37,825 crore in the first quarter of FY21

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Updated On : 16 Jun 2020 | 3:11 PM IST

The problem of tax buoyancy

The Union government's tax buoyancy has never been very high

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Updated On : 03 Jun 2020 | 1:12 AM IST

Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds

Collections may come under pressure once the base effect wears off

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Updated On : 25 Jun 2020 | 9:22 AM IST

Contrary to govt's claims, direct tax refunds down 67% till May 21

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to fight the economic impact of Covid

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Updated On : 25 May 2020 | 2:21 AM IST

Central Board of Direct Taxes amends Rule 44G of Income-tax Rules 1962

It also states that if a resolution is arrived, the same shall be communicated to the assessee, who shall communicate his acceptance or non-acceptance within 30 days

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Updated On : 08 May 2020 | 10:41 AM IST

Direct tax mop-up falls short by record Rs 1.45 trn of revised estimates

Official figures showed that the gross amount collected under direct taxes as of March 31 was Rs 12.11 trillion

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Updated On : 02 Apr 2020 | 12:11 PM IST

From Finance Bill to Termination of Pregnancy, Bills passed by Parliament

Here are a few Bills passed by Parliament in the Budget session

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Updated On : 24 Mar 2020 | 10:10 AM IST

Covid-19 impact: Govt may extend Mar 31 deadline for paying income-taxes

Change in financial year for I-T purposes expected amid Covid-19 outbreak

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Updated On : 24 Mar 2020 | 9:41 AM IST

Govt notifies Vivad se Vishwas forms and rules; deadline extension expected

The income tax department notified a 5-stage process of making declaration under the Scheme, with as many as five forms released

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Updated On : 20 Mar 2020 | 1:14 AM IST

Rationalise GST now

Counteract coronavirus supply shock with tax reform

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Updated On : 18 Mar 2020 | 12:43 AM IST

FM reaches out to CAs to promote Vivad se Vishwas scheme to resolve cases

Addressing CAs at an, Sitharaman said they should work hard to make the scheme successful

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Updated On : 17 Mar 2020 | 9:57 AM IST

Parliament approves direct tax Vivad Se Vishwas Bill by voice vote

The Direct Tax Vivad Se Vishwas Bill was passed by voice vote and returned by Rajya Sabha as it was a money bill. It was approved by Lok Sabha on March 4

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Updated On : 13 Mar 2020 | 3:05 PM IST