Wednesday, February 8, 2023
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US industry urges FM to rationalise, simplify direct & indirect taxes in India

A top US strategic and business advocacy group has urged Union Finance Minister to simplify and rationalise direct and indirect taxation system in India

Net direct tax collection grows by 24% to Rs 8.77 lakh cr: Finance Ministry

The net direct tax collection grew by 24 percent to Rs 8.77 lakh crore in the April-November period of the current fiscal, said the Finance Ministry

Rationalisation in long-term capital gains tax structure: Finance Ministry

Finance ministry to rationalise long-term capital gains tax structure by bringing parity between similar asset classes & revising base year

5 lakh taxpayers pay Rs 400 cr additionally by filing updated ITRs

'So far about 5 lakhs updated ITRs have been filed and about Rs 400 crore taxes have been paid,' said a senior government official

Tax collection to exceed budget estimate by nearly Rs 4 lakh crore: Revenue Secretary

India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore due to income tax, customs duty and GST mop-up, said Revenue Secretary

Budget 2023 should focus on job creation & steps to broaden tax base: CII to FM

Budget 2023 should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, said CII

Finance Ministry extends ITR filing deadline for companies till November 7

The Finance Ministry has extended the deadline for filing ITR for the assessment year 2022-23 by businesses till November 7

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