TAX COLLECTED AT SOURCE
Direct tax collections post a shortfall of 12.2%
Direct tax collections declined to Rs 10.27 lakh crore in the year ended March 31, falling 12.2% short of target, people familiar with the matter said.
Budget 2020: 5% tax collection at source for remittances over Rs 7 lakh
The finance bill states that banks who receive Rs 7 lakh from an indi...
March GST collections stand at Rs 97,597 crore
February was the fourth consecutive month when collections crossed Rs 1 lakh crore. Central GS...
Direct tax collection contracts in April-February period, at 8.13 lakh crore
The minister however noted, in a written reply in Lok Sabha, that indirect tax collections including goods and services tax (GST), clocked Rs 8.75 lakh crore, higher than Rs 8.43 lakh crore for the 11 month period till February 2019.
Exporters likely to be exempted from ‘Tax at Source’
The budget proposal said that a seller of goods has to deduct TCS at the rate of 0.1% before making payments in excess of Rs 50 lakh. In cases where the buyer doesn’t have PAN or Aadhaar — which is the case with exports — the rate will be 1%.
Tax officials threaten to cut workload in protest over working conditions
Corporate and tax collection for this fiscal is likely to fall for the first time in at least two decades.
Investors hit hard by steep fall in toll collections
The road transport and highways ministry had on March 25 directed the National Highways Authority of India to suspend toll collections across India till April 14.
National parties collected Rs 11,234 cr donation from unknown sources from FY 2004-05 to 2018-19: ADR
The income from unknown sources refers to the funds declared in the Income Tax returns without naming the source for donations below Rs 20,000. Such unknown sources include donations via electoral bonds, sale of coupons, relief fund, miscellaneous income, voluntary contributions and contribution from meetings/morchas.
Why a simplified tax regime is the need of the hour
Tax rules must be clear-cut if the government wants to lower tax arrears.
Dividend tax should go, it taxes same income at many sources: Sommaiyaa
I, as well as my firm, have been votary of having good allocation to midcaps, says Sommaiyaa.
Government collects Rs 7.52 lakh crore direct tax in April-January
The fiscal deficit estimated for the current fiscal has been revised upwards to 3.8 per cent of GDP, from the budgeted 3.3 per cent.
Govt revises target for GST collections again
Target has been raised to Rs 1.15 lakh crore over the next two months and Rs 1.25 lakh crore in March.
How India can fix its problem of not collecting enough taxes
So, how do we collect more taxes? Using the GST and following up on the audit trails it generates.
India may slash borrowing from market in April amid lockdown: Sources
Market borrowing is challenging in the current environment, a senior finance ministry official said.
Fall in toll collections, labour shortage to hurt road firms
Analysts have reduced earnings estimates of majority of construction companies by 15-40 per cent based on the cash and balance sheet strength of these companies.
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