Direct Taxes

Govt has not renewed angel tax for startups: Central Board of Direct Taxes chairman Nitin Gupta

Board of Direct Taxes chief talks about future of old tax regime, carve-outs made for start-ups in angel tax in Budget

published on : 5th February 2023

India's poorest 50 per cent pay two-thirds of GST: Oxfam

The total GST collected (by both centres and the states) in 2021-22 was Rs 14.7 lakh crore, and going by the current trends, total GST collections in 2022-23 could touch Rs 18 lakh crore.

published on : 16th January 2023

Direct tax collections up 24% in first six months

Personal income taxes saw 32.3% increase in gross terms and 16.25% increase in net revenue collection.

published on : 10th October 2022

CBDT to launch campaign from Octobert 2 to clear pending cases

The Central Board of Direct Taxes (CBDT) will launch a special campaign from 2 October for redressal of taxpayers’ grievances, its chairman Nitin Gupta said on Tuesday.

published on : 28th September 2022

Net direct tax mop up rises 23 per cent to Rs 7.04 lakh crore so far this fiscal

Gupta said I-T refunds worth Rs 1.41 lakh crore have been issued so far this fiscal, which is an increase of 83 per cent over the same period last year.

published on : 27th September 2022

Net direct tax collection jumps 23%; refunds up 83%

The net direct tax collection (after refunds) for 2022-23 registered a 23% jump to R7 lakh crore as on 17 September 2022.

published on : 19th September 2022

Unauthorised import, export data publication is offence: Government

The government has made the unauthorised publication of import-export data a compoundable offence. 

published on : 25th August 2022

Dolo 650 maker Micro Labs rejects allegations of giving Rs 1,000 crore worth freebies to doctors

"This is highly misleading and is affecting the reputation of Micro Labs, the pharmaceutical industry and doctors," the spokesperson added. 

published on : 21st August 2022

'Pharma company distributed Rs 1000 crore freebies to prescribe Dolo 650mg tablets': SC told

The bench asked Additional Solicitor General KM Nataraj to file his response to the plea in ten days and gave one week time thereafter to Parikh to file his rejoinder.

published on : 18th August 2022

GST investigation wing asks officers to refrain from summoning CMD/CEOs 

It said that as arrest impinges on the personal liberty of an individual, such a measure should be based on credible material.

published on : 18th August 2022

GST e-invoice to be mandatory for firms with turnover of Rs 10 crore from October 1

Currently, businesses with turnover of Rs 20 crore and above are required to generate electronic invoice for all B2B transactions.

published on : 2nd August 2022

Over five crore ITRs filed so far as deadline for financial year 2021-22 ends Sunday

The department issued a public message through its official Twitter handle asking taxpayers, largely individuals and salaried class, to file their returns within the due date of July 31.

published on : 31st July 2022

Government proposes changes in GST return filing system, floats out concept note

The Board has also proposed a separate amendment table in GSTR-3B to display the changes made by the taxpayers in GSTR-1, which contains details of all the sales made by a business.

published on : 19th July 2022

Hike in GST rates: Shops following practice of weighing commodities may get more takers

For, the loose sale is exempted from the 5% GST on pulses, cereals and flour which came into effect on Monday.

published on : 19th July 2022

I-T detects unaccounted income worth Rs 200 crore after multiple raids in Chhattisgarh

The modus-operandi followed by the group included unfair regular collections on coal transportation throughout the state, leading to generation of huge unaccounted income.

published on : 5th July 2022

PAN, Aadhaar must for deposits and withdrawals exceeding Rs 20 lakh 

Currently, only deposits exceeding Rs 50,000 a day require quoting of PAN or Aadhar. Currently, there are no annual thresholds mentioned.

published on : 12th May 2022

NCB, CBIC unearth Rs 2.2 crore payment in cryptocurrency in 11 drug trafficking cases

The government is taking steps like conducting training for the field officers on cyber and forensic technologies and on the collection of evidence through electronic means to check such usage.

published on : 4th April 2022

PAN to become inoperative after March 2023 if not linked to Aadhaar

CBDT, which is the apex decision making body on direct taxes, has extended the deadline for linking PAN with Aadhaar many times and the last date now is March 31, 2022.

published on : 30th March 2022

No shortage of Central funds to AP, says Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman has assured Andhra Pradesh that there will not be any lapses in cooperation or shortage of funds from the Centre.

published on : 6th March 2022