Tag: Central Board of Direct Taxes

Net direct tax collection grows 15.41% to ₹12.11 lakh crore till Nov 10

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Net direct tax collection grows 15.41% to ₹12.11 lakh crore till Nov 10

Net direct tax collection grew 15.41% to ₹12.11 lakh crore between April 1 and November 10. This include net corporate tax of ₹5.10 lakh crore and non-corporate taxes (including taxes paid by individuals, HUFs, firms) of ₹6.62 lakh crore. Other taxes (which include Equalisation Levy and gift tax) worth ₹35,923 crore were mopped up. As…

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Public inputs sought for Income Tax Act review

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Public inputs sought for Income Tax Act review

Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto As part of the comprehensive review of the Income Tax Act announced by Finance Minister Nirmala Sitharaman in the Budget, the Central Board of Direct Taxes (CBDT) on Monday (October 7,2024) invited inputs and suggestions from taxpayers and the public at large. These ideas…

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Income Tax portal ramped up; July 31 I-T returns deadline may stay

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Income Tax portal ramped up; July 31 I-T returns deadline may stay

The I-T department has seen a substantial rise in number of transactions. Photo: incometax.gov.in The July 31 deadline for filing Income Tax (I-T) returns is unlikely to be extended. The Central Board of Direct Taxes (CBDT) has intervened to fix recent glitches and downtimes reported on the I-T portal by ramping up its back-end capacity…

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‘Super rich’ incomes’ share ebbing amid upward mobility for middle class: CBDT

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‘Super rich’ incomes’ share ebbing amid upward mobility for middle class: CBDT

Tax payers file their income-tax returns. As many as 7.41 crore I-T returns have been filed so far this year, which include 53 lakh first-time tax filers. File | Photo Credit: The Hindu India’s tax base has widened sharply since 2013-14, with individuals moving up the income ladder and the proportion of super-rich taxpayers’ incomes…

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