Budget 2019 has delivered quick fixes; govt seems to have made attempt to address several policy gaps
5 years, 6 months ago

Budget 2019 has delivered quick fixes; govt seems to have made attempt to address several policy gaps

Firstpost  

On the back of a massive mandate, the first Budget of Narendra Modi government’s second term has several reasons to cheer about. What’s more encouraging is, these policy announcements were woven around certain themes central to the government’s policy agenda, e.g., mega spending programme for physical and social infrastructures; last mile foreign direct investment reforms, e.g., for aviation, insurance and single brand retailing; enhanced defence procurements to reinforce internal security; push to digital economy initiatives, banking and financial services sector reforms; providing impetus to technology/innovation-led businesses; long overdue labour laws reforms; sanitation and electricity for all, and aligning tax policies to many of these macro objectives. Similarly, a policy roll-out to create a conducive ecosystem for aviation maintenance, repair and overhaul and developing international financial services centres for aviation leading and financing would catapult India into becoming a major aerospace hub in the region, and creating new jobs, a key promise of the incumbent government. Turning to tax proposals in the Budget, for one, the government seems to have bitten the bullet on higher tax for ultra-rich individual taxpayers, by rolling out a steep hike in the surcharge rates, which would entail an increase in effective tax rate by 3 to 7 percent for income earners in the highest tax brackets. Besides, after many policy flip-flops in the past, clarifications on ‘angel tax’ for eligible startups bodes quite well, and will pave way for next wave of angels and accredited investments in technology and innovation-led ventures.

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History of this topic

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report
2 days, 2 hours ago

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report

India Today  

The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's tax landscape, aiming to simplify income tax filing and address longstanding tax disputes. According to a Bloomberg report, Finance Minister Nirmala Sitharaman is expected to unveil a comprehensive overhaul of the Income Tax Act, 1961, a move that has been in the works for several months. KEY …

Budget 2025: 5 reforms that could make new tax regime a better deal for you
Trending News
1 week ago

Budget 2025: 5 reforms that could make new tax regime a better deal for you

India Today  

Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2025 on February 1, 2025. The new tax regime is expected to take centre stage in the budget, with reforms designed to make it a more attractive alternative to the traditional tax structure. POSSIBLE REFORMS IN THE NEW TAX REGIME The upcoming budget could include several changes to the …

Budget 2025: Will Nirmala Sitharaman address TDS-TCS challenges?
1 week ago

Budget 2025: Will Nirmala Sitharaman address TDS-TCS challenges?

India Today  

As the Union Budget 2025-26 draws near, discussions intensify on simplifying India’s tax system. Industry bodies, including the Federation of Indian Chambers of Commerce and Industry, have shared their recommendations with Finance Minister Nirmala Sitharaman, advocating tax reforms to boost the ease of doing business and reduce complexity. SIMPLIFYING TDS-TCS RATES FICCI has proposed reducing the numerous TDS/TCS rates to …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
1 week, 1 day ago

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%

The Hindu  

India’s gross Goods and Services Tax receipts increased at the second-slowest pace in 43 months in December, while growth in net GST collections, after adjusting for refunds, slumped to 3.3%, the weakest in financial year 2024-25. Editorial: ​Selective indecision | on the GST Council’s 55th meeting, decisions December’s gross GST inflows, for transactions undertaken in November, were a tad under …

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
3 weeks, 1 day ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

India’s fiscal deficit will be 4.8 pc in FY25, below budget estimate of 4.9 pc: CareEdge Ratings
3 weeks, 3 days ago

India’s fiscal deficit will be 4.8 pc in FY25, below budget estimate of 4.9 pc: CareEdge Ratings

Live Mint  

New Delhi, December 16 : The fiscal deficit of the central government is projected to be 4.8 per cent of GDP for FY25, slightly below the budgeted estimate of 4.9 per cent, according to a report by CareEdge Ratings. It said "Overall, we project the fiscal deficit at 4.8 per cent of GDP, marginally lower than the budgeted 4.9 per …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
1 month, 2 weeks ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

Can you expect major income tax changes in Budget 2025? Check details
1 month, 3 weeks ago

Can you expect major income tax changes in Budget 2025? Check details

India Today  

The Union Budget 2025-26 is set to usher in a new era of tax simplification in India, with the Finance Ministry working on comprehensive reforms to streamline the income tax system. The proposed reforms focus on three key areas: simplifying tax structures, expanding the tax base, and balancing revenue generation with taxpayer relief. SIMPLER TAX FILING Building on the success …

Budget 2024: Income tax slabs changed, standard deduction increased. Read details
5 months, 2 weeks ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

Major reforms expected by key sectors in Budget 2024, will it deliver?
5 months, 2 weeks ago

Major reforms expected by key sectors in Budget 2024, will it deliver?

New Indian Express  

With the first Union Budget after the Lok Sabha elections all set to be unveiled, there are great expectations regarding major policy and tax reforms. These expectations include: A new subsidy scheme similar to FAME II with a more comprehensive coverage; Streamlining policies towards R&D efforts in battery technology and grid integration for development of a widespread and reliable charging …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
5 months, 3 weeks ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

India's 2024 Budget: A push for tax reform
5 months, 3 weeks ago

India's 2024 Budget: A push for tax reform

India Today  

The 2024 Budget, scheduled for July 23, may see tweaks to key tax policies to boost government revenue — bold steps to tackle tax evasion and improve tax compliance. 1980: For every Rs 100 collected, Rs 11 came from income tax, Rs 12 from corporate tax, Rs 1 from other direct taxes, and Rs 76 from other indirect taxes. 2000: …

Budget may make some announcements to enable Global Minimum Tax
5 months, 3 weeks ago

Budget may make some announcements to enable Global Minimum Tax

Deccan Chronicle  

The global minimum tax set to take effect in 2025 will have legal and economic ramifications for multinational corporations with an annual global turnover exceeding €750 million. “India being a signatory of the Global Minimum Tax Agreement and the regime set to take effect in 2025, the government will have to bring some enabling provisions and mechanisms in the Budget. …

Move ahead: On GST and reform
6 months, 2 weeks ago

Move ahead: On GST and reform

The Hindu  

Revenues from the Goods and Services Tax, which completes seven years at the end of this month, hit a record high of ₹2.1 lakh crore in April that typically sees higher inflows due to a year-end compliance rush. Although gross revenues from domestic transactions grew 15.3%, accelerating from a 13.4% rise a month earlier, revenues from goods imports dipped for …

Govt may revise fiscal deficit target to 5% of GDP in Budget
6 months, 4 weeks ago

Govt may revise fiscal deficit target to 5% of GDP in Budget

Hindustan Times  

NEW DELHI: The full budget for FY25 may see a downward revision of India’s fiscal deficit target for the current financial year from previous target of 5.1% of the gross domestic product to at least 5% or less as North Block swings into action to translate Prime Minister Narendra Modi’s development agenda into budget proposals, three people aware of the …

10 years of Modi government: Tax reforms, challenges
7 months, 4 weeks ago

10 years of Modi government: Tax reforms, challenges

New Indian Express  

NEW DELHI: In the last 10 years of Modi government rule, India has undergone marked tax reforms focused on streamlining the tax framework, enhancing compliance, and fostering transparency. Key reforms common to Customs, GST, income tax, and corporate tax include digitisation for e-filing and digital payments, real-time data sharing to detect tax frauds, faceless assessment and appeals, dispute resolution schemes …

Broaden GST net, cut cesses to reduce tax burden
8 months, 1 week ago

Broaden GST net, cut cesses to reduce tax burden

New Indian Express  

Goods and services tax collection crossed the landmark of Rs 2.1 lakh crore for the first time in April. Truth be told, April has always seen higher collections, thanks in part to year-end adjustments in tax assessments. But what sets apart the latest haul is that a part of the 12.4 percent increase over last year was led by a …

A reform window: On the GST trajectory
9 months, 1 week ago

A reform window: On the GST trajectory

The Hindu  

The financial year 2023-24 appears to have ended on a high on the revenue front. Net direct tax collections rose 19.9% by mid-March to hit 97% of revised Budget targets, while the Goods and Services Tax has yielded a robust ₹20.18 lakh crore. Gross GST revenues in March, for transactions undertaken in February, crossed ₹1.78 lakh crore, the second highest …

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary
11 months ago

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary

The Hindu  

February 06, 2024 08:19 pm | Updated 09:05 pm IST - NEW DELHI India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25, led by an uptick in the more ‘equitable’ direct taxes, and the government will continue to simplify and rationalise the tax regime to reduce disputes, litigation and intrusive means of enforcement, …

Budget 2024: It’s tax buoyancy that shrank the deficit
11 months, 1 week ago

Budget 2024: It’s tax buoyancy that shrank the deficit

Live Mint  

A quick glance at the fiscal arithmetic reveals that there is no severe fiscal austerity proposed in the budget. Given nominal GDP growth of 10.5% and aggregate tax revenue growth of 11.5%, the government has met its fiscal deficit target through tax buoyancy, and not through severe public expenditure reduction. As against a 2023-24 Budget Estimate of ₹61,000 crore, the …

Robust revenues: On direct tax collection target and fiscal consolidation
11 months, 4 weeks ago

Robust revenues: On direct tax collection target and fiscal consolidation

The Hindu  

With little under a quarter left in the financial year 2023-24, the government has met nearly 81% of its direct tax collection target. Economists believe the exchequer’s net direct tax kitty will end up surpassing the Budget estimate of ₹17.2 lakh crore by about a lakh crore if not more, with the full-year growth settling at around 18%. Within direct …

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government
1 year ago

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

The Hindu  

Personal income and corporate tax collections are likely to rise to more than ₹19 lakh crore in 10 years of Prime Minister Narendra Modi-led Government, providing more leeway to come out with people-friendly tax measures. Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased from ₹6.38 lakh crore in FY 2013-14 to ₹16.61 …

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary
1 year, 5 months ago

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary

India TV News  

As the finance ministry is not contemplating an extension of the July 31 deadline, Revenue Secretary Sanjay Malhotra has urged the income taxpayers to file their returns at the earliest. About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. As per the Budget 2023-24, the …

GST has been a gamechanger for India’s economy
1 year, 6 months ago

GST has been a gamechanger for India’s economy

Live Mint  

Ahead of the launch of the goods and services tax on 1 July 2017, this newspaper on 6 June 2017 had published my piece titled ‘Indian GST: Unparalleled Tax Reform’ in which I had highlighted the unique features of India's GST regime such as the Dual GST structure; Integrated GST mechanism; invoice matching; single digital interface and the establishment of …

Net direct tax growth for 2022-23 to slow to 15%
1 year, 9 months ago

Net direct tax growth for 2022-23 to slow to 15%

The Hindu  

India’s net direct tax collections growth, which stood at about 17% for this year by early March, is expected to moderate to 15% for the full financial year 2022-23, a top Finance Ministry official told The Hindu. By February 10, the growth rate stood at 18.4%, which declined further to 16.8% by March 10, when the total net direct tax …

Tax transitions: The Hindu Editorial on GST revenue trends
1 year, 10 months ago

Tax transitions: The Hindu Editorial on GST revenue trends

The Hindu  

The nearly ₹1.5 lakh crore of gross Goods and Services Tax collections in February are notable from several aspects. First, they mark the 12th successive month that GST revenues have stayed over ₹1.4 lakh crore, and the fourth highest single month kitty since the launch of the GST regime. The average monthly GST collections in the first 11 months of …

High govt revenue: What it means for Budget 2023
1 year, 11 months ago

High govt revenue: What it means for Budget 2023

Live Mint  

New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. For each of the three years till 2020-21, growth in overall GST collections lagged nominal GDP growth. The three major tax heads of the Centre—income tax, corporation tax, and central GST, which account for about 80% of its gross tax …

Union Budget 2023-24: Why setting store by GST, fuel tax regressive
1 year, 11 months ago

Union Budget 2023-24: Why setting store by GST, fuel tax regressive

Firstpost  

The Goods and Services Tax collections have been surging recording Rs 1.50 lakh crore or so in December 2022. Fuel tax collections for the Centre too have been impressive at around Rs 8 lakh crore in each of the three financial years ending 2021. Add to this the Value-Added Tax imposed by state governments on fuel at the ballpark figure …

What India may get from this budget
1 year, 11 months ago

What India may get from this budget

Hindustan Times  

As we approach the 2023-24 Union Budget, it is difficult to deny that India’s fiscal position, the banking system, and economic recovery appear to be much better than what one may have feared in March 2020. Indeed, the improvement in India’s tax-to-Gross Domestic Product ratio, which is often attributed to an unequal recovery with larger corporations gaining market share, has …

Budget 2023: Why govt should consider tax relief despite limited fiscal room
1 year, 11 months ago

Budget 2023: Why govt should consider tax relief despite limited fiscal room

India Today  

An incremental tax relief in the upcoming Union Budget 2023 could help the central government provide consumption support to the Indian economy in FY24 and shield it from the worsening financial environment in the West. Recently, global economic experts, including International Monetary Fund Deputy Managing Director Gita Gopinath, noted that an inflation-driven price shock could disrupt the lives of people …

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore
2 years, 3 months ago

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore

News 18  

Direct tax collection has increased by 35.46 per cent to Rs 6.48 lakh crore in the current fiscal up to September 8, the finance ministry said. Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 per cent higher than the net collections for the corresponding period of last year, according to the data released …

In charts, the GST’s five-year report card
2 years, 6 months ago

In charts, the GST’s five-year report card

Live Mint  

Five years ago, the goods and services tax was launched as one of India’s biggest reforms in recent years, with the purpose of making indirect taxes “good and simple". View Full Image Chart-1 The GST regime has completed five years and the guaranteed compensation for loss in revenue to states ceases to exist. View Full Image Chart-2A View Full Image …

Increased tax revenue mop-up keeps India on track to becoming $5 trillion economy: Finance Ministry
2 years, 8 months ago

Increased tax revenue mop-up keeps India on track to becoming $5 trillion economy: Finance Ministry

The Hindu  

The focus on capex in the recently announced Budget for the current fiscal year will boost manufacturing and tax revenue collections, thereby keeping India on track to becoming a $5 trillion economy, the finance ministry said on Thursday. Tax revenues in last fiscal year grew by a record 34% to ₹27.07 lakh crore, which the ministry said is "a remarkable …

Record Exports, GST Collections: Signs of Indian Economic Recovery But Challenges Remain
2 years, 9 months ago

Record Exports, GST Collections: Signs of Indian Economic Recovery But Challenges Remain

News 18  

Despite global uncertainties due to the Russia-Ukraine war looming large and effects of supply chain disruptions continue globally, key domestic economic indicators have started showing signs of a recovery in the Indian economy. GST collections and exports are touching record high numbers, while housing sales as well as new project launches are also gaining good momentum. “The gross GST collection …

Budget 2022: Expanding PLI schemes to small businesses will democratise Atmanirbhar Bharat
2 years, 11 months ago

Budget 2022: Expanding PLI schemes to small businesses will democratise Atmanirbhar Bharat

Firstpost  

It’s Budget time and almost everyone has high expectations of India’s finance minister. Before the previous year’s Budget, the mood was dull, with expectations revolving around government support through regulatory measures, and not much around tax cuts. What we expect from Budget 2022 Fintech • Given the stellar role played by fintech in the financial inclusion of a scale unheard …

Govt seen boosting budget spending on infrastructure
2 years, 11 months ago

Govt seen boosting budget spending on infrastructure

Live Mint  

India plans to raise spending on infrastructure in its annual budget next week to set the economy on a firmer footing, but fiscal constraints leave little chance of concessions for households hurting from the pandemic, officials said. Yet these are likely to be overshadowed by spending to beef up transport and healthcare networks, which analysts estimate could rise between 12% …

Budget 2022: Replacing Income Tax with Expenditure Tax is the Blockbuster Reform India Needs
2 years, 11 months ago

Budget 2022: Replacing Income Tax with Expenditure Tax is the Blockbuster Reform India Needs

News 18  

Every stimulus package to boost the economy has its own burdening impact on the country’s fiscal position. If personal income tax is done away with, about 6.32 crore people will have the freedom from the burden of submitting annual Income Tax Returns. The various organisations complying with TDS will also be free from the burden of collecting, remitting and submitting …

Goods and Services Tax as an unfinished agenda
3 years ago

Goods and Services Tax as an unfinished agenda

The Hindu  

GST, or Goods and Services Tax, an institutional tax innovation intensively marketed in many countries by the International Monetary Fund and the World Bank, was wrapped in a “one nation one tax” package, and was accepted by India on the midnight of July 1, 2017. While the States have forgone a substantial part of their own tax revenue, they were …

Net direct tax collections so far this fiscal rise over 91% to ₹2.49 lakh cr
3 years, 5 months ago

Net direct tax collections so far this fiscal rise over 91% to ₹2.49 lakh cr

Live Mint  

New Delhi: Despite the worse condition due to COVID-19 which impacted economic growth, the net direct tax collection has doubled to over ₹2.49 lakh crore so far this fiscal, mainly driven by personal income tax and advance tax mop up, Income Tax department sources told ANI. The net direct tax collections between April 1 and July 3 stood at ₹2.49 …

India’s tax burden shifted from boardrooms to petrol pumps during Covid-19
3 years, 7 months ago

India’s tax burden shifted from boardrooms to petrol pumps during Covid-19

Hindustan Times  

The provisional Gross Tax Revenue collection of the Union government was ₹20.24 lakh crore in 2020-21. On a year-on-year basis, corporation tax collections saw the biggest decline, whereas Union excise duties had the biggest jump. Taxes on profits had the smallest share in overall tax basket since 2009-10 The share of corporation tax collections – taxes on profits of companies …

India's fiscal deficit in 2020-21 lower than expected
3 years, 7 months ago

India's fiscal deficit in 2020-21 lower than expected

The Hindu  

India recorded a fiscal deficit of 9.3% of GDP in 2020-21, 0.2% lower than the revised estimate of 9.5% of GDP, according to the Controller General of Accounts. Total revenue receipts turned out to be about ₹88,000 crore higher than estimated, driven largely by higher excise and customs collections, while total expenditure was ₹61,000 crore more than the revised estimate. …

Budget 2021: ’Tax payers hope no new tax as Covid Cess is introduced’
3 years, 11 months ago

Budget 2021: ’Tax payers hope no new tax as Covid Cess is introduced’

Live Mint  

By Nimish Shah In light of the recession caused by Covid 19, the issue of growth versus fiscal discipline for framing the Budget 2021 will be the most debated one by the Government and Finance Ministry. While the next stop would be at around 5.2% for FY22, the trajectory and measures around it could shape the way fixed income and …

Budget 2021: Are you expecting big income tax relief this year? ’You will be disappointed’
3 years, 11 months ago

Budget 2021: Are you expecting big income tax relief this year? ’You will be disappointed’

Live Mint  

Finance minister Nirmala Sitharaman has promised a Union Budget like "never before" in 2021. In the view of rising inflation, the salaried Indian middle class taxpayers are expecting some relief from Union Budget 2021 amid COVID-19 pandemic. "The salaried class could be disappointed if it’s expecting for reduction in tax rates," said Divakar Vijayasarathy, founder & managing partner, DVS Advisors …

Why the GST framework is in trouble
4 years, 4 months ago

Why the GST framework is in trouble

Hindustan Times  

The switch to the Goods and Services Tax in July 2017 was a historic moment in India’s fiscal trajectory. The Union has not paid the constitutionally mandated ₹1.5 lakh crore of GST compensation to states for the months of April-July in the current fiscal year. It also expects that the total shortfall in GST compensation to the states will be …

Covid-19 presents a tax crisis ahead of GST Council meet
4 years, 4 months ago

Covid-19 presents a tax crisis ahead of GST Council meet

India Today  

The Covid-19 pandemic has worsened the economic slowdown in India. To be held via videoconference, the GST Council meet is expected to discuss the compensation payout to states and the legality of borrowing from the market to meet a revenue shortfall. The SBI paper's estimate for the entire financial year is a revenue shortfall of around Rs 3 lakh crore …

No fireworks: The Hindu Editorial on Union Budget 2020-21
4 years, 11 months ago

No fireworks: The Hindu Editorial on Union Budget 2020-21

The Hindu  

Nirmala Sitharaman’s second Budget is not a spend-and-stimulate exercise despite the fact that it has overrun the 3.3% target on fiscal deficit by as much as 0.5 percentage point. The gross tax revenue growth projection of 11.99% also appears very optimistic especially because it has been built on the premise of a 11.54% rise in corporate tax collections. The spending …

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman
4 years, 11 months ago

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman on Saturday presented the second Union Budget of the Modi 2.0 government. Tax concession for foreign investments " In order to incentivise the investment by the Sovereign Wealth Fund of foreign governments in the priority sectors, I propose to grant 100% tax exemption to their interest, dividend and capital gains income in respect of investment made …

Budget 2020 live updates | New scheme to bring down direct tax disputes
4 years, 11 months ago

Budget 2020 live updates | New scheme to bring down direct tax disputes

The Hindu  

Union Finance Minister Nirmala Sitharaman’s second Budget is being presented in Lok Sabha. To make sure India stays competitive, we took the bold decision to reduce corporate tax rate for new mfg companies to an unprecedented 15% and 22% for existing companies, which is the lowest in the world Net market borrowing for FY21 at ₹5.36 lakh crore. 10 a.m. …

Corporate tax cut to mostly benefit less than 1% of companies: Economic Survey
4 years, 11 months ago

Corporate tax cut to mostly benefit less than 1% of companies: Economic Survey

Live Mint  

The steep cut in corporate tax rate will benefit large companies the most as smaller ones were already paying lower rates, the Economic Survey 2019-20 said on Friday. The pre-Budget Survey, tabled in Parliament, said most of the companies have a gross turnover of below ₹400 crore and are already taxed at the base corporate tax rate of 25 per …

Budget 2020: Finance Minister Nirmala Sitharaman must consider announcement of implementation of proposed Direct Tax Code
4 years, 11 months ago

Budget 2020: Finance Minister Nirmala Sitharaman must consider announcement of implementation of proposed Direct Tax Code

Firstpost  

One of the major demands of corporates is that the government should replace the dividend distribution tax on dividends with the withholding tax on dividends The year 2019 posed several challenges to the Indian economy. All eyes are now on the upcoming India Union Budget 2020 with expectations that the finance minister will announce a series of measures to pump …

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