Implementation of New Tax Regime and Its Impact on Direct Tax Revenue
1.Introduction: A tax is a compulsory transfer of funds from the private sector to the government. Among different sources of
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Income Tax
Direct tax collections up 18% in FY24, top revised budget estimate
Government’s net direct tax collections, after adjusting for refunds, grew 17.7 per cent year-on-year to Rs 19.58 lakh crore in
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CBDT extends deadline for charitable trusts’ registration till June 30
The income tax department extended the deadline for charitable and religious trusts to furnish registration application with tax authorities till
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In coming months, I-T may reopen many big old cases
The Central Board of Direct Taxes (CBDT), guided by a Supreme Court (SC) order issued in April, has sent out
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Income Tax refunds of Rs. 1.49 lakh crore issued this fiscal
Income Tax refunds of over Rs 1.49 lakh crore have been issued to 1.45 crore taxpayers so far this fiscal,
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Special I-T dept unit to prove undisclosed foreign assets
A special unit has been created by the government in the countrywide investigation wings of the Income Tax department for
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