Search For "direct tax"
CBDT issues Revised Guidelines for compounding offences under IT Act
Updated : 1 year, 5 months ago IST
In conformity with the Finance Minister's budget announcement on simplification and rationalization of compounding procedure, The Central Board of Direct Taxes (CBTD) issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961 on Thursday.
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India's net direct tax collections up by 18.35 pc to almost Rs 11.26 lakh
Updated : 1 year, 5 months ago IST
India's net direct tax collection for the financial year 2024-25 has seen a significant surge, with an increase of 18.35 per cent to almost Rs 11.26 lakh crore year on year, as of 10 October, the data from the Central Board of Direct Taxes (CBDT) shows.
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CBDT forms committee to comprehensively review Income-tax Act
Updated : 1 year, 5 months ago IST
The Central Board of Direct Taxes (CBDT) has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961 (Act), as was announced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman.
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Central Board of Direct Taxes extends deadline for filing audit reports of
Updated : 1 year, 5 months ago IST
The Central Board of Direct Taxes (CBDT) has announced an extension for the filing of various audit reports for the financial year 2023-24.
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Supreme Court disposed of 573 direct tax cases after revised monetary limi
Updated : 1 year, 6 months ago IST
The Supreme Court has disposed off 573 direct tax cases where the tax effect is less than Rs 5 crore, in view of the revised monetary limit of filing of appeals, a Ministry of Finance said in a statement on Tuesday.
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CBDT notifies 'Direct Tax Vivad Se Vishwas Scheme, 2024' to resolve pendin
Updated : 1 year, 6 months ago IST
This scheme, aimed at resolving pending income tax disputes, will come into effect from October 1. It seeks to provide an efficient framework for taxpayers to settle their outstanding appeals, streamlining the resolution process for various tax-related disputes.
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Direct tax collection soars, gross collections surge by 21% to reach at Rs
Updated : 1 year, 6 months ago IST
India's direct tax net collection for the financial year 2024-25 has seen a significant surge, with an increase of 21.48 per cent as of 17 September this year, the data from the Central Board of Direct Taxes (CBDT) shows.
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Former bureaucrats, eminent ex-servicemen join BJP in presence of Union Mi
Updated : 1 year, 6 months ago IST
"It is a matter of great joy that distinguished retired civil servants who devoted their entire life to civil service career - whether they were generals in the armed forces, chief commissioners of Income Tax, or members of the Board of Direct Taxes, retired ambassadors, expressed their d
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Direct tax collections 24 pc higher at Rs 8.1 lakh crore
Updated : 1 year, 7 months ago IST
The gross direct tax collections by the government so far in 2024-15 were 24 per cent higher on a yearly basis at Rs 8.13 lakh crore, data released by the Central Board of Direct Taxes (CBDT) showed on Monday. During the same period last year, the gross tax collections were Rs 6.55 lakh cror
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Direct tax code will be released in six months for stakeholder consultatio
Updated : 1 year, 8 months ago IST
Speaking at a post-budget interaction with industry leaders, Revenue Secretary Sanjay Malhotra said on Thursday that the government is working on a revised direct tax code, which will be released in six months for wider consultations.
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"Shameful to see Delhi govt demanding funds for MCD from Centre ": Raja Iq
Updated : 1 year, 8 months ago IST
The leader of opposition in Municipal Corporation of Delhi (MCD), Raja Iqbal Singh said that it's shocking to see Delhi's Finance Minister Atishi and Mayor Dr Shelly Oberoi demanding special funds equivalent to 5 per cent of total direct taxes collected from Delhi from Centre for MCD even as
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Robust net direct tax collection in FY25, (upto July 11) up 19.54 per cent
Updated : 1 year, 8 months ago IST
The net direct tax collection of the government registered a significant growth of 19.54 per cent in financial year 2024-25, amounting to Rs 5,74,357 crore by July 11, highlighted the data by the income tax department.
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