Tax Base

Budget 2019: Aadhaar, PAN Steps To Expand Tax Base, Say Experts

Business | NDTV Profit Team | Wednesday July 10, 2019

In the Union Budget for 2019-20, the government has provided "interchangeability of PAN (Permanent Account Number) and Aadhaar" to enable individual assessees to file income tax returns (ITR). The Aadhaar number or Unique Identity Number (UID) is a 12-digit identification number issued by the UIDAI or Unique Identification Authority of India under...

Income Tax Department Asked To Add 1.30 Crore New Filers This Fiscal

India News | Press Trust of India | Sunday July 7, 2019

The income tax department has been tasked to add 1.30 crore new return filers in the current financial year as part of the government's plan to widen the tax base in the country.

Notes Ban Led To Formalisation Of Economy, Expanded Tax Base: Arun Jaitley

Business | Press Trust of India | Thursday November 8, 2018

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

Net Direct Tax Collections Up Nearly 16% In 2018-19 So Far

Business | Press Trust of India | Monday October 22, 2018

The Income Tax Department assessees to file their ITRs and pay taxes based on their tax history or some new information received by the taxman about their transactions.

Number Of Taxpayers Earning Over 1 Crore Rupees Rises 60% In Four Years: Tax Body

Business | Press Trust of India | Monday October 22, 2018

IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

2 Years After Demonetisation, Some Hits And Many Misses: Report

Business | Vrishti Beniwal, Bloomberg | Monday September 24, 2018

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

18 Per Cent More Direct Taxes Collected After GST, Says Arun Jaitley

India News | Edited by Anindita Sanyal | Sunday July 1, 2018

Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.

Urgent Need To Raise Tax Base To Achieve Fiscal Target, Says Report

Business | Press Trust of India | Monday January 8, 2018

The country's gross fiscal deficit as percentage of GDP,started shooting up after the 2008 financial crisis, the report said.

Did Demonetisation Increase Tax Base? Not Really

India News | Written by Manas Pratap Singh, Sreenivasan Jain | Tuesday November 7, 2017

If the government is to be believed, the ban on high-value currency led to a significant surge in India's tax base over the past year. To back this claim, the government has released a deluge of data. Including the claim that that there was a 25 per cent increase in tax returns in the April-August 2017 period, compared to the same period last year....

99 Percent Of Banned Notes Back, But Government Says Aim Met: 10 Points

India News | NDTV News Desk | Thursday August 31, 2017

Indians have returned almost all of the estimated Rs 15.44 lakh crore ($242 billion) in currency banned by Prime Minister Narendra Modi in a shock move in November, the Reserve Bank of India (RBI) said in its annual report on Wednesday. The Finance Ministry, in a statement, said a "significant portion" of it could be black money. The tax authoritie...

Notes Ban, GST To Widen Tax Base, Make Cash Dealing Difficult: Arun Jaitley

Business | Press Trust of India | Saturday July 22, 2017

Arun Jaitley said the government has come out with laws to contain overseas black money as well as those dealing with domestic black money and cracking down on shell companies.

Opinion: Budget Focuses On Enhancing Tax Return Filing Compliance

Business | Saraswathi Kasturirangan | Sunday February 19, 2017

The lowering of tax rate, while ensuring that there is no erosion of existing tax base, is expected to encourage present non-filers to move towards compliance by paying taxes and filing the tax return, says Ms Kasturirangan.

Personal Income Tax Base Must Be Up Before Corporate Tax Cut: Hasmukh Adhia

Business | Press Trust of India | Saturday February 4, 2017

A cut of 1 per cent in corporate income tax rate from the current 30 per cent will cost Rs 18,000-19,000 crore in revenues, Revenue Secretary Hasmukh Adhia said.

Opinion: Budget A Double Edged Sword For Real Estate Sector

Business | Vaibhav Sankla | Thursday February 2, 2017

The public sentiment has largely been that the burden of a narrow taxpayer base always falls on the few honest taxpayers, says Mr Sankla.

FMCG Companies Pin Hopes On A Growth-Oriented Budget

Business | Press Trust of India | Thursday January 26, 2017

Emami too is expecting a growth-oriented budget "to boost consumption, increase public investment, promote digitisation, broaden tax base and lead higher growth" and improvement of business sentiments.