Tag: direct taxes

Task force on direct tax laws to submit report by July 31

The task force set up to draft a new direct tax law to replace the existing Income Tax Act has been given 2-month extension till July 31 to submit its report.The task force was scheduled to submit the report by May 31. The task force was set up after Prime Minister during the annual conference… Continue reading Task force on direct tax laws to submit report by July 31

GDP numbers suggest high growth in the medium term: panel

Finance Commission has held discussions with the finance ministry on fiscal and economic management of the country, During the meeting,15th Finance Commission has said that the GDP numbers suggests continued high growth over the medium term even though there have been fluctuations within the overall global trend. Gross domestic product(GDP) is the monetary value of… Continue reading GDP numbers suggest high growth in the medium term: panel

Govt faces direct tax shortfall of ₹60k crore

According to the Central Board of Direct Taxes(CBDT),Direct tax collections have fallen short by Rs 60,000 crore.It has failed to meet the revised target of Rs 12 lakh crore for 2018-19 fiscal on account of poor personal income tax collections. However,tax collections has risen by 13.5% making it the third straight year of strong growth… Continue reading Govt faces direct tax shortfall of ₹60k crore

Indirect tax collection may fall short, says Garg

The Central government has said that it may fall short of the Goods and Services tax(GST) target this financial year.However,government is confident of reaching its direct tax collection target for the current financial year. The government had targeted GST collections at Rs 1.3 lakh crore and direct tax collections at Rs 12 lakh crore for… Continue reading Indirect tax collection may fall short, says Garg

Blog
Academy
Community