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Tax Collection To Exceed Budget Estimate By Nearly Rs 4 Lakh Crore: Revenue Secretary
India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST (Goods and Services Tax ) mop-up, Revenue Secretary Tarun Bajaj said today.
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For First Time In 3 Years, Centre Refuses To Extend Tax Return Deadline: 5 Points
The deadline to file an Income Tax return (ITR) is July 31, and the government isn't keen to extend the timeline any further. Taxpayers should file their ITRs before the due date to avoid paying penalties or other legal consequences. Over the last two financial years, the government extended the deadline for filing ITR to ease compliance for taxpay...
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Windfall Tax Will Be Revoked Only If Oil Prices Fall By $40 A Barrel: Official
India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj told Reuters on Monday.
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GST Rates, Compensation, Top Takeaways From Council Meeting: 10 Points
The Goods and Services Tax (GST) Council meeting ended its two-day deliberations today, where a host of issues like rate rationalisation, levying 28 per cent tax on online gaming and horse racing and the vexed issue of continuing GST compensation to states, were discussed.
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Government Looking To Fill Economic Affairs Secretary's Post As Incumbent Unwell: Report
Ajay Seth, the 1987-batch Karnataka cadre IAS officer who currently holds this charge, has been detected with a serious illness
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Tax Revenues Exceeded Budget Estimates By Rs 5 Lakh Crore In 2021-22
Tax revenues in 2021-22 exceeded Union Budget's estimates by Rs 5 lakh crore
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Tax Collections Touched Rs 27.07 Lakh Crore In 2021-22: Revenue Secretary
Tax collections touched a record high of Rs 27.07 lakh crore in 2021-22 as mop-up from income and other direct taxes as well as indirect taxes jumped
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Separate Crypto Income Column In ITR Forms From Next Year: Revenue Secretary
Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes
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Finance Ministry Reviews Income Tax Portal With Infosys Chief
Finance ministry officials reviewed the performance of the new income tax e-filing portal on Thursday with Infosys chief Salil Parekh
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Crypto Gains May Be Taxed As Income Tax Laws Likely To Change In Next Budget
Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.
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Higher Taxes Impact Auto Sector, Need To Lower GST Rates: Revenue Secretary
"I quite agree with automotive sector. Two-wheelers and four-wheelers were not only charged 28 per cent Goods and Services Tax (GST) but we also charged cess, which is much more and as I see it will continue for two more years," he said.
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Finance Minister Holds Pre-Budget Consultations With Social Sector Representatives
The finance minister usually meets various stakeholders, including economists, farmer's organizations, civil society as well as industry bodies as part of the pre-budget consultative exercise
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Centre Appoints Tarun Bajaj As Director On RBI Central Board
The government has appointed Economic Affairs Secretary Tarun Bajaj as a director on central board of Reserve Bank of India, in place of Mr Bajaj will be replacing Atanu Chakraborty, who retired on April 30.
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Government Nominates Economic Affairs Secretary As RBI Central Board Director
The Centre has nominated Secretary of Economic Affairs Department Ministry of Finance Tarun Bajaj as a director on the Central Board of Reserve Bank of India (RBI).
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Tax Collection To Exceed Budget Estimate By Nearly Rs 4 Lakh Crore: Revenue Secretary
India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST (Goods and Services Tax ) mop-up, Revenue Secretary Tarun Bajaj said today.
-
For First Time In 3 Years, Centre Refuses To Extend Tax Return Deadline: 5 Points
The deadline to file an Income Tax return (ITR) is July 31, and the government isn't keen to extend the timeline any further. Taxpayers should file their ITRs before the due date to avoid paying penalties or other legal consequences. Over the last two financial years, the government extended the deadline for filing ITR to ease compliance for taxpay...
-
Windfall Tax Will Be Revoked Only If Oil Prices Fall By $40 A Barrel: Official
India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj told Reuters on Monday.
-
GST Rates, Compensation, Top Takeaways From Council Meeting: 10 Points
The Goods and Services Tax (GST) Council meeting ended its two-day deliberations today, where a host of issues like rate rationalisation, levying 28 per cent tax on online gaming and horse racing and the vexed issue of continuing GST compensation to states, were discussed.
-
Government Looking To Fill Economic Affairs Secretary's Post As Incumbent Unwell: Report
Ajay Seth, the 1987-batch Karnataka cadre IAS officer who currently holds this charge, has been detected with a serious illness
-
Tax Revenues Exceeded Budget Estimates By Rs 5 Lakh Crore In 2021-22
Tax revenues in 2021-22 exceeded Union Budget's estimates by Rs 5 lakh crore
-
Tax Collections Touched Rs 27.07 Lakh Crore In 2021-22: Revenue Secretary
Tax collections touched a record high of Rs 27.07 lakh crore in 2021-22 as mop-up from income and other direct taxes as well as indirect taxes jumped
-
Separate Crypto Income Column In ITR Forms From Next Year: Revenue Secretary
Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes
-
Finance Ministry Reviews Income Tax Portal With Infosys Chief
Finance ministry officials reviewed the performance of the new income tax e-filing portal on Thursday with Infosys chief Salil Parekh
-
Crypto Gains May Be Taxed As Income Tax Laws Likely To Change In Next Budget
Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.
-
Higher Taxes Impact Auto Sector, Need To Lower GST Rates: Revenue Secretary
"I quite agree with automotive sector. Two-wheelers and four-wheelers were not only charged 28 per cent Goods and Services Tax (GST) but we also charged cess, which is much more and as I see it will continue for two more years," he said.
-
Finance Minister Holds Pre-Budget Consultations With Social Sector Representatives
The finance minister usually meets various stakeholders, including economists, farmer's organizations, civil society as well as industry bodies as part of the pre-budget consultative exercise
-
Centre Appoints Tarun Bajaj As Director On RBI Central Board
The government has appointed Economic Affairs Secretary Tarun Bajaj as a director on central board of Reserve Bank of India, in place of Mr Bajaj will be replacing Atanu Chakraborty, who retired on April 30.
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Government Nominates Economic Affairs Secretary As RBI Central Board Director
The Centre has nominated Secretary of Economic Affairs Department Ministry of Finance Tarun Bajaj as a director on the Central Board of Reserve Bank of India (RBI).
