Page 5 - Direct Tax

Cabinet nod to changes in Vivad se Vishwas Bill to reduce tax litigations

The minister hoped that people will take advantage of the scheme to settle the tax disputes before March 31, 2020

FM talks 'Vivad Se Vishwas' scheme with industry representatives

With over Rs 9 trillion worth direct taxes locked up in litigation, the government last week introduced 'Direct Tax Vivad se Vishwas Bill, 2020' in the Lok Sabha

Vivad se Vishwas: CBDT to collect data on direct tax cases in high courts

The CBDT has asked the regional Income Tax Department chiefs to "personally monitor" the exercise

New tax slabs proposed in Budget to benefit taxpayers: CBDT chairman

The set target for revenue collection (personal income tax, corporate tax and others) was Rs 13.35 trillion for the 2019-20 financial year that ends on March 31

Budget 2020: 'Vivad se Vishwas' scheme to cut down direct tax litigation

Under the proposed scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by March 31, 2020.

Top 10 biz headlines: Direct tax immunity likely in Budget, farm write-offs

From final touches to takeover norms for unlisted firms to Vistara junks premium class on low income routes, Business Standard brings you the top business headlines of the day

Slowdown blues: Direct tax mop-up growth slumps to 3.5% till mid-October

A combination of factors is responsible. This includes a deepening of the general economic slowdown and corporation tax cuts

Top 10 biz headlines: Slabs for direct tax, BSNL asset sale, and more

From Direct tax code panel seeking 4 slabs to RBI rejecting Sebi's plan for rating agencies, here are the top business headlines on Tuesday

Govt reworking strategy to enhance direct tax mop-up: CBDT member

CBDT member Akhilesh Ranjan, who headed a panel on the new direct tax law, said corporation tax rate in India is somewhat higher - compared to international standards - and must be reduced

Direct Tax Code may help bring change in mindset of taxpayers, authorities

The Direct Tax Code may help initiate the much-needed change in the mindset of taxpayers and authorities, say experts

Enhanced limits to reduce pending direct tax litigation in one stroke

The CBDT circular has come at an appropriate time. It will provide much needed respite to business entities and taxpayers

Direct tax collection sees dismal growth; mid-August mop-up growth under 5%

The collections had shot up that year because people regularised their unaccounted income by paying higher levies

Committee submits report on replacing I-T Act with Direct Tax Code

The recommendations made by task force headed by CBDT member Akhilesh Ranjan have not been made public.

Budget impact: Direct tax proposals are futuristic and far reaching

Tax exemption on withdrawal from NPS at the time of closure or opting out will be enhanced from 40% to 60%

Budget 2019: India Inc grim over customs, direct tax surcharge uptick

Industry captains, experts at CII, FICCI praise some measures; say government could have done much more

Direct tax mop-up reaches Rs 11.5 trn against revised target of Rs 12 trn

The collection figures are expected to go up as the tax collection continues till midnight, said a government official in the know

Govt faces direct tax mop-up shortfall, collects Rs 4 trn as advance tax

RS 4 trillion collected in advance tax; SBI, ONGC, PNB top the list

DTC panel is likely to get one more month to draft the law, says official

The panel is likely to recommend a structure of rates for corporate taxes that is competitive across the south Asian economic region

Direct tax mop-up at Rs 7.88 trillion in April-Jan: Govt informs House

The collection had stood at Rs 4.69 trillion in the entire 2017-18

Direct taxes to exceed target of Rs 11.5 trillion in 2018-19: CBDT chairman

In 2017-18, the revised estimate was higher than the Budget Estimate by 2.6%