Income Tax : The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society...
Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...
Income Tax : For the first time since Independence, personal income tax collections have surpassed corporate tax. The shift reflects formalisat...
Income Tax : 1. Tax collection at source (TCS) is an additional amount collected as tax by a seller of specified goods from the buyer at the ti...
Income Tax : As per Section 206C of Income Tax Act, 1961 (1) Every person, being a seller shall, at the time of debiting of the amount payable ...
Goods and Services Tax : Haryana recorded the highest State GST revenue growth of 32% during the first quarter of FY 2026-27, outperforming all other state...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : Net direct tax collections for FY 2025–26 grew by 7.19%, primarily supported by a decline in refunds. Lower refund outflows impr...
Income Tax : Net direct tax collections grew 9.40% as of 10 February 2026 compared to last year. Lower refunds and steady corporate and non-cor...
Income Tax : Net direct tax collections recorded an 8.82% increase despite moderate gross growth. Lower refunds played a key role in boosting n...
Income Tax : This Court finds that when the petitioner had agreed to comply with the payment of disputed tax at the rate of Rs. 50 lakhs per mo...
Goods and Services Tax : The gross GST revenue collected in the month of August, 2020 is ₹ 86,449 crore of which CGST is ₹ 15,906 crore, SGST is ₹ 21...
Income Tax : The Budget target for each cadre-controlling Pr. CCIT has been fixed keeping in view the revenue potential of the Region, which is...
Income Tax : I am directed to refer to Board's letter dated 24th May, 2019 regarding Region-wise allocation of revised Budget Estimates(BE) of ...
Income Tax : On review of the progress of TDS collections it is noted that as on 31.08.2017, an amount of Rs. 1,65,114 crore has been collected...
Income Tax : Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for re...
The key result areas for widening of tax-base are as under: (i) Improving compliance to TDS/TCS Provisions (ii) Effective collection of information about high value transactions (iii) Efficient handling of information without valid PAN (iv) Ensuring compliance from identified non-filers through various methods
Since the very beginning, the focus needs to be on the reduction of Arrear Demand by de-duplication of the entries and cleansing the arrear demand data. Priority should be accorded to reduce entries of amounts less than Rs. 10000/- and those pending for more than 2 years. These steps have already been reiterated in the SOP several times.
t has remained a matter of great debate that whether as per the provisions of section 206C(1D), the TCS in respect of bullion, jewellery, any other goods and provision of service is leviable :
Introduction: From 01st June, 2016 TCS is to be collected by seller from the buyer in respect of : (i) sale of motor vehicle of the value exceeding Rs. 10 lakhs (on receipt of sale consideration through any mode ) and also in respect of ;
Whether TCS to be collected, if Goods sold/Services provided of value exceeding Rs. 2,00,000 purchased/received for personal consumption from Retail Buyer? Yes, still TCS provision will be applicable as not exception for such clause is there; every buyer/service provider is covered under these section.
Data Covers Figures of 1. Direct Tax Collection 2. State and U.T. Wise Break-Up of Collection 3. Contribution of Direct Taxes to Total Tax Revenue 4. Direct-Tax GDP Ratio 5. Pre-Assessment and Post-Assessment Collections 6. Cost of Collection 7. Number of Effective Assessees 8. Workload and Disposal of Income tax Cases
Indirect Tax Revenue (Provisional) collections during October 2015 increased by 36.8% as compared with collections made in October 2014; Cumulatively, during April-October 2015, Indirect Tax Collections increased by 35.9% over the collections made during the same period last year suggesting a healthy growth in the underlying tax base
Tax Research Cell of National Institute of Public Finance and Policy (NIPFP) has released a report on Development of an Analytical Model for Widening of Taxpayer’s Base. This study was undertaken for the Central Board of Direct Taxes to analyse and develop an Analytical Model for the number of taxpayers in the personal income tax system.
Indirect Tax Revenue (Provisional) Collections Increase to Rs. 61,284 crore in September 2015 from Rs. 46,224 crore in Spetember 2014 ; Thus an Increase of 32.6% has been Registered in Collections During September 2015 over the Corresponding Period in the Previous Year
Indirect Tax Revenue (Provisional) Collections during Month of August 2015 Increased by 36.7% as Compared with August 2014 while, Overall Indirect Tax Collections During April-August 2015 Increased to Rs. 2,63,089 Crore from Rs. 1,92,677 Crore during the same Period Last Year and thereby Registering an Increase of 36.5%.
