Page 3 - Direct Tax Collection

Late income-tax returns surge slows direct tax mop-up contraction

Net collection stands at Rs 6.57 trn, compared with Rs 7.24 trn a year ago

Google tax mop-up rises 64%, Bengaluru and Hyderabad top the list

This complements improvement in direct tax collection, with contraction narrowing to 9.6 per cent as on January 7

Fall in direct tax mop-up slows in November on better economic movements

Personal income tax saw contraction shrink to 13 per cent by November from 22 per cent seen up to September, on the back of lower issuance of refunds and improvement in economic conditions

Economic contraction easing? Direct tax mop-up down, but not like earlier

At 23 per cent, decline in collection was slightly better than 30 per cent seen a fortnight ago, provisional data show

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

Collections may come under pressure once the base effect wears off

Gross direct tax collection declines 4.92% to Rs 12.33 trn in FY20

However, the gross collections would have clocked a 8 per cent growth to Rs 14.01 trillion in 2019-20 if revenue foregone in corporate tax and Personal Income Tax (PIT) is taken into account

Fall in direct tax collection on expected lines and temporary: CBDT

The CBDT said the assertion that in spite of the tax reforms, the investment has not been picking up is not correct and is without an appreciation of the reality of the business world

Top biz headlines: ATMs to become virtual bank branches, Airtel deal & more

Here are the top 10 headlines on Tuesday morning

Refunds save the day for April direct tax collection; mop-up down 5%

Gross direct tax collection stood at Rs 41,556 crore in April, as against Rs 43,950 crore in the corresponding period last year

Coronavirus outbreak: Direct tax shortfall likely to touch a 20-year high

The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion

Govt has collected Rs 7.52 trillion direct tax in Apr-Jan: Anurag Thakur

The Revised Estimate (RE) has pegged the target for collection of direct taxes for the current fiscal, which ends on March 31, at Rs 11.70 trillion

FM introduces 'Vivad Se Vishwas' Bill in LS to settle direct tax disputes

It will not apply to prosecution cases under PMLA or IPC

Confident of meeting Rs 11.7-trn direct tax collection target in FY20: CBDT

Income tax collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion

Top headlines: India's direct taxes may fall, fresh summons for AirAsia CEO

From India's first fall ín direct tax collections in two decades to the latest in Tata-Mistry case, here are today's top headlines

Finance Ministry ramps up efforts to meet direct tax collection targets

Field officers were asked to make efforts to identify and initiate actions against willful tax evaders or those using fake invoices or e-way Bills

Revenue Secy asks tax officials to put special efforts to check evasion

Direct tax collection target for the current fiscal has been pegged at Rs 13.35 lakh crore despite corporate tax relief of 1.45 lakh crore

Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr

Net collection grows only 0.7% to Rs 6.75 trillion

Gross direct tax collection up by 5% till November: Nirmala Sitharaman

Replying to a debate on Taxation Law Amendment Bill, 2019 in the Lok Sabha, the minister categorically said there is no decrease in direct tax collection.

Rising fiscal fears

A comprehensive review is needed

At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target

The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer