Net direct tax kitty swells 15% to ₹17.78 lakh crore till Feb 10
1 month, 1 week ago

Net direct tax kitty swells 15% to ₹17.78 lakh crore till Feb 10

The Hindu  

Net direct tax collection grew 14.69% to over ₹17.78 lakh crore so far this fiscal, government data showed on Tuesday, February 11, 2025. As per the data released by the Central Board of Direct Taxes, mop up from net non-corporate taxes, which include mainly personal income tax, grew 21% year-on-year to about ₹9.48 lakh crore. Gross direct tax mop up till February 10 grew 19.06% to more than ₹21.88 lakh crore. In the revised estimates for the current fiscal, the government has pegged income tax collections at ₹12.57 lakh crore, up from the budget estimate of ₹11.87 lakh crore.

Tax Crore Lakh Collection Till Feb  collections  till  feb  taxes  net  1778  tax  budget  lakh  direct  grew  collection  crore  kitty  fiscal  swells

History of this topic

Centre’s net direct tax collections reach ₹21.26 trillion, 95% of revised estimates
1 week ago

Centre’s net direct tax collections reach ₹21.26 trillion, 95% of revised estimates

Live Mint  

The Centre has collected ₹21.26 trillion in net direct taxes so far this fiscal year, reaching 95% of the revised full-year target, the Income Tax Department said Monday after the final advance tax instalment deadline. Tax revenue, spanning corporate income tax, individual income tax, and securities transaction tax, grew 13.1% year-over-year, outpacing India’s 9.9% nominal GDP growth—a sign of strong …

India’s April-Jan fiscal deficit hits ₹11.7 lakh crore, widens to 74.5% of revised FY25 target
Top News
3 weeks, 3 days ago

India’s April-Jan fiscal deficit hits ₹11.7 lakh crore, widens to 74.5% of revised FY25 target

Live Mint  

The Centre's fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts on Friday. The CGA data showed that the central government's tax revenue was ₹19.03 lakh crore, or 74.4 per cent of the RE of 2024-25. The total expenditure was at ₹35.7 lakh …

House panel members question government on impact of corporate tax cut
1 month ago

House panel members question government on impact of corporate tax cut

The Hindu  

The Parliamentary Standing Committee on Finance, during a six-hour-long meeting on Monday, questioned the government on the impact of the corporate tax cut introduced five years ago. According to sources, many Opposition members sought answers from the Finance Ministry on whether the corporate tax cuts introduced in September 2019 had increased private investment. “The government has foregone revenue of nearly …

Total tax revenue of ₹154.36 crore for Thiruvananthapuram Corporation in 2023-24
1 month, 1 week ago

Total tax revenue of ₹154.36 crore for Thiruvananthapuram Corporation in 2023-24

The Hindu  

The Thiruvananthapuram Corporation had a total tax revenue of ₹154.36 crore in 2023-24, as per the annual administration report for the financial year tabled in the council on Saturday. The non-tax revenue for 2023-24 stands at ₹109.38 crore, with the ₹37.36 crore collected in building construction licensing fees and fine amounts being the biggest contributor. Property tax collections at the …

Oppn slams govt over ‘cruel cuts’ in Budget
1 month, 2 weeks ago

Oppn slams govt over ‘cruel cuts’ in Budget

Hindustan Times  

New Delhi: Senior Congress leader and former finance minister P Chidambaram on Monday slammed the government’s handling of the economy, tore into the 2025-26 Union Budget for “cruel cuts”, and asked why the government has not conferred the Bharat Ratna — the country’s highest civilian honour — upon former prime minister Manmohan Singh for his contribution to the country. Former …

Why the tax cuts are a one way gamble
1 month, 2 weeks ago

Why the tax cuts are a one way gamble

The Hindu  

It would not be an exaggeration to say that this is the biggest tax cut that the middle class has ever got in any Union Budget. Since the tax rebate has implications for both, and a lot of the plans of the 2025 Budget ride on it, this piece primarily focuses on this unprecedented fall in income tax rates. In …

Interest payments up 11 pc to 25.6 pc of total expenditure
1 month, 3 weeks ago

Interest payments up 11 pc to 25.6 pc of total expenditure

Deccan Chronicle  

Chennai: Interest payments on loans availed by the government is projected to go up by 11 per cent and account for 25.6 per cent of the total expenditure, as per the Budget. The Budget finds that the interest payments are estimated to be Rs 13.15 lakh crore, having gone up from Rs 11.85 lakh crore in the revised Budget of …

Union Budget 2025: Tax bonanza for middle class
Trending News
1 month, 3 weeks ago

Union Budget 2025: Tax bonanza for middle class

The Hindu  

If your car is sputtering, and a faulty fading battery appears to be the cause, the only immediate alternative is to try and jumpstart it by hooking it up with another running car. Finance Minister Nirmala Sitharaman sought to do just that on Saturday with her Union Budget for 2025-26 — jumpstart slowing economic activity with a significant ₹1 lakh …

Will income tax booster by Modi government safeguard stock market bulls against FII selloff?
1 month, 3 weeks ago

Will income tax booster by Modi government safeguard stock market bulls against FII selloff?

Live Mint  

The Union Budget provided a major relief to middle-class taxpayers as Finance Minister Nirmala Sitharaman raised the income tax exemption limit to ₹12 lakh. According to stock market analysts, this move could increase the disposable income in the hands of the middle class, which could flow into the stock markets, providing further cushion against the heavy foreign investor selling that …

Despite hike in exemption limit, income tax receipts to go up by 13 p
1 month, 3 weeks ago

Despite hike in exemption limit, income tax receipts to go up by 13 p

Deccan Chronicle  

Chennai: Despite the Centre's move to increase tax exemption limit to Rs12 lakh annual income and making 30 per cent tax slab payable for those with Rs 24 lakh income, the personal income tax receipts of the government are estimated to go up by 13.4 per cent. Both personal income tax and direct taxes will see their share in revenue …

Govt cuts borrowing target to ₹11.54 lakh cr for FY26
1 month, 3 weeks ago

Govt cuts borrowing target to ₹11.54 lakh cr for FY26

The Hindu  

The government has reduced its borrowings estimate for next financial year to ₹11.54 lakh crore on net basis as it expects an improvement in tax collection. However, gross market borrowings have now been revised upward to ₹14.82 lakh crore from ₹14.01 lakh crore estimated for the current financial year. The net tax receipts are estimated at ₹28.37 lakh crore," Finance …

Union Budget 2025: Income tax’s share in gross collections expected to rise, despite change in tax slabs
1 month, 3 weeks ago

Union Budget 2025: Income tax’s share in gross collections expected to rise, despite change in tax slabs

The Hindu  

Despite announcing that no income tax needs to be paid up to an income of Rs 12 lakh under the new regime, the government is still expecting the share of income tax in gross tax collections to increase in the financial year FY26. Union Budget 2025 LIVE updates The government is expecting to get Rs 14,38,000 crore from income tax …

Budget 2025: One reason Sitharaman can afford to give income tax benefits
1 month, 3 weeks ago

Budget 2025: One reason Sitharaman can afford to give income tax benefits

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one reason for her to arrive at such a decision Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one of the reasons for her to arrive at such …

Direct, indirect taxes comprise 66 paise of every rupee in govt coffer: Budget documents
1 month, 3 weeks ago

Direct, indirect taxes comprise 66 paise of every rupee in govt coffer: Budget documents

Live Mint  

New Delhi, Feb 1 For every rupee in the government coffer, the biggest pie of 66 paise will come from direct and indirect taxes, according to the Union Budget 2025-26 documents. Around 24 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like disinvestment, and 1 paise from non-debt capital receipts, the Budget documents said. Among …

Happy With Income Tax Announcements In Budget 2025? Here's How Much It Will Cost Centre
1 month, 3 weeks ago

Happy With Income Tax Announcements In Budget 2025? Here's How Much It Will Cost Centre

ABP News  

Finance Minister Nirmala Sitharaman has unveiled significant tax relief for the salaried class under the new income tax regime. Announcing a major change, she stated that individuals with an income of up to Rs 12 lakh will be exempt from paying any income tax, excluding special rate incomes like capital gains. Slab Rate Changes Bring Relief In addition to the …

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 3 weeks ago

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime

Live Mint  

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. "To tax payers upto ₹12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by …

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 3 weeks ago

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime

Live Mint  

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. "To tax payers upto ₹12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by …

Union Budget 2025: Key numbers and economic indicators to watch out for
Top News
1 month, 3 weeks ago

Union Budget 2025: Key numbers and economic indicators to watch out for

Hindustan Times  

Finance Minister Nirmala Sitharaman will present her 8th straight Budget and all eyes will be on the much-expected tax relief for the middle class. Union Finance Minister Nirmala Sitharaman displays a red pouch carrying the Budget documents outside the Finance Ministry in North Block before leaving for the Parliament where she will table the Union Budget 2024-25, in New Delhi, …

Personal income taxes help direct tax collections rise 16% to Rs 16.9L cr
2 months, 1 week ago

Personal income taxes help direct tax collections rise 16% to Rs 16.9L cr

New Indian Express  

NEW DELHI: Net direct tax collection in FY25 increased by 16% to Rs 16.9 lakh crore, driven mainly by strong personal income tax collection. Personal income tax collections during the period surged 21.6% to Rs 8.74 lakh crore compared to Rs 7.2 lakh crore. For the current financial year, the government has a target of collecting Rs 22 lakh crore …

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25
Trending News
2 months, 1 week ago

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25

Live Mint  

New Delhi: Strong growth in tax collection from both personal and corporate income helped the Central government to collect ₹16.9 trillion in direct tax revenue so far this financial year after adjusting for tax refunds, official data showed on Monday. The net direct tax collection growth of 15.9% so far this year exceeds the 12.8% growth rate that finance minister …

Net direct tax collections slow down marginally to touch 15.88% in January
2 months, 1 week ago

Net direct tax collections slow down marginally to touch 15.88% in January

The Hindu  

Growth in India’s net direct tax collections slowed marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17, with gross receipts also tapering slightly from 20.3% a month ago to 19.94%. After accounting for refunds which were 42.5% higher than January 12, 2024 at ₹3.74 lakh crore, net direct tax collections …

First three quarters of 2024-25 :U.P’s tax collections up 11.2%, non-tax revenue increases 36.4%
2 months, 2 weeks ago

First three quarters of 2024-25 :U.P’s tax collections up 11.2%, non-tax revenue increases 36.4%

Hindustan Times  

The Uttar Pradesh government has collected a total tax revenue of ₹1.52 lakh crore in the first three quarters of the financial 2024-25, an increase of about 11.2% against the collections of ₹1.37 lakh crore made under the same head in the same period in 2023-2024. The state government’s revenue collections also increased by ₹ 977.14 crore in December 2024 …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
2 months, 3 weeks 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 collections rise 16.5%
3 months ago

Net direct tax collections rise 16.5%

The Hindu  

With a little over three months left in 2024-25, India’s net direct tax collections were up 16.5%, crossing ₹15.82 lakh crore by December 17, with non-corporate taxes leading the growth. Data shared by the Central Board of Direct Taxes on Wednesday showed that gross tax receipts had grown 20.3% so far this year to cross ₹19.21 lakh crore, with corporate …

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

Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth
3 months, 1 week ago

Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth

India TV News  

The government has reported a significant rise in net direct tax collections, which have surged by 16.45 per cent to exceed Rs 15.82 lakh crore in the ongoing fiscal year. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up …

UP collects ₹1.35 lakh crore tax revenue in 8 months
3 months, 2 weeks ago

UP collects ₹1.35 lakh crore tax revenue in 8 months

Hindustan Times  

[email protected] For representation only Uttar Pradesh government on Wednesday claimed it has collected a tax revenue of ₹135058.47 crore in the first eight months of 2024-2025. It collected ₹7579.74 crore from transport, ₹2226.81 crore from energy and ₹279.54 crore from land revenue “Our revenue collections are going up and the state’s financial situation is witnessing marked improvement consistently. The state …

Tax cuts may have saved ₹3 lakh crore for India’s largest corporates: Data
3 months, 3 weeks ago

Tax cuts may have saved ₹3 lakh crore for India’s largest corporates: Data

The Hindu  

Taxed at a significantly lower rate following the introduction of the concessional tax regime in 2019, India’s largest corporates may have saved over ₹3 lakh crore in tax payments since then. Moreover, the top 10% of the BSE 500 companies continued to enjoy lower effective tax rates compared to the overall average for all companies, even as the gap has …

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema
Trending News
3 months, 3 weeks ago

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema

Hindustan Times  

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said on Sunday that the state witnessed 62.93% growth in net GST collection during November 2024 compared to the corresponding period last year. Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the total net collection from VAT, CST, GST, PSDT, and excise in November this year is …

Will exceed direct tax collection target for FY25: CBDT chief
4 months ago

Will exceed direct tax collection target for FY25: CBDT chief

Live Mint  

New Delhi: The government expects to exceed its ₹22 trillion direct tax collection target for this financial year, going by the current trend in tax receipts, Central Board of Direct Taxes chairperson Ravi Agarwal said on Monday. Nudging taxpayers Agarwal also said the government is nudging tax payers who have not disclosed their foreign assets, to update their tax returns. …

India Expects to Surpass Rs 22 Lakh Cr Direct Tax Target
4 months ago

India Expects to Surpass Rs 22 Lakh Cr Direct Tax Target

Deccan Chronicle  

New Delhi: The government on Monday said that it would exceed the Rs 22 lakh crore direct tax collection target set for the current fiscal year. As per the latest data released by the tax department between April 1 and November 10, net direct tax collection has grown 15.41 per cent to Rs 12.11 lakh crore, including net corporate tax …

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
4 months, 1 week ago

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate

Live Mint  

Data from the Income Tax Department reveals a shift in India’s tax landscape over the past decade, with the share of tax collected from individuals earning less than ₹10 lakh dropping from over 10% to 6.22%. Tax collection from this group has tripled, rising from ₹2.52 lakh crore in 2014 to ₹9.62 lakh crore in 2024, data showed. “Tax liability …

India is investing more in mutual fund SIPs, and paying more tax too
4 months, 1 week ago

India is investing more in mutual fund SIPs, and paying more tax too

Firstpost  

With individual wealth creation through investments aligning with strengthened government revenues, India appears resilient in the face of global uncertainties Investments in mutual funds,a s well as tax collection in India have gone up. New records for SIPs In October 2024, investments through monthly systematic investment plans into mutual funds surpassed Rs 25,000 crore for the first time and reached …

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
4 months, 1 week ago

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

Live Mint  

New Delhi: The union government’s direct-tax collection has grown by 15.41%, after tax refunds, to ₹12.1 trillion so far this financial year, the Central Board of Direct Taxes said on Monday. Securities transaction tax contributed ₹35,923 crore so far this financial year, 90% more than the ₹18,909 crore collected in the same period a year ago, CBDT data showed. So …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
4 months, 2 weeks ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

Chandigarh suffers ₹240 crore revenue loss in first half of fiscal year
4 months, 2 weeks ago

Chandigarh suffers ₹240 crore revenue loss in first half of fiscal year

Hindustan Times  

The UT administration has suffered a revenue loss of ₹240 crore in the first half of the 2024-25 fiscal, data from the Comptroller and Auditor General of India has revealed. The capital expenditure, which include funds designated for development projects and asset creation, have also been come down-- from ₹ 722 crore in 2023 to ₹ 655 crore in 2024. …

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
5 months ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years
5 months, 1 week ago

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years

New Indian Express  

The number of income taxpayers has doubled in the past 10 years, with direct tax collection tripling during the same period. Tax buoyancy has shown a sharp improvement, indicating that the growth in tax collection was more than double the nominal GDP growth rate. This is a positive sign for the Indian economy, as it suggests that the country is …

U.P. govt mops up over ₹98k cr tax revenue in six months
5 months, 2 weeks ago

U.P. govt mops up over ₹98k cr tax revenue in six months

Hindustan Times  

The Uttar Pradesh government has earned higher tax and non-tax revenue in the first six months of 2024-25 vis-a-vis the previous financial year, collecting tax revenue of ₹98,886.75 crore from April 1 to September 30, 2024. Other main tax revenue earners for the state government included excise with collections of ₹22,564.29 crore from this head. The state government’s non-tax revenue …

U.P govt’s revenue earnings up by ₹1725.83 crore in August
6 months, 2 weeks ago

U.P govt’s revenue earnings up by ₹1725.83 crore in August

Hindustan Times  

The Uttar Pradesh government on Thursday claimed an increase of ₹1725.83 crore in tax and non-tax revenue earnings in August 2024 with the total collections going up to ₹15,969.65 crore vis-a-vis ₹14,243,82 crore earned in the same month in 2023. The state government’s tax collections in the first five months of 2024-2025 are 76 per cent of the target going …

Net direct tax collection rises 22% so far this fiscal
7 months, 1 week ago

Net direct tax collection rises 22% so far this fiscal

Live Mint  

New Delhi: The central government’s direct tax collection has risen 22.48% so far this fiscal. Personal tax collection jumped 30% year-on-year to ₹4.47 trillion, while corporate taxes have risen 6% to ₹2.22 trillion. For FY25, the government targets a corporate tax mop-up of ₹10.2 trillion and personal income tax collection of ₹11.87 trillion. The total direct tax collection before adjusting …

Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data
7 months, 1 week ago

Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data

India TV News  

India's net direct tax collection surged by 22.48 per cent, reaching approximately Rs 6.93 lakh crore as of August 11 for the current fiscal year, according to government data released on Monday. The overall tax collection includes Rs 4.47 lakh crore from personal income tax, showcasing the strong contribution of individual taxpayers to the exchequer. Refunds worth Rs 1.20 lakh …

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
7 months, 2 weeks ago

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report

Hindustan Times  

Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation associated with it has also consequently risen, according to a Moneycontrol report, which cited data compiled from various Union Budgets. Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen How much tax default did India …

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever
7 months, 3 weeks ago

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever

The Hindu  

India’s Gross Goods and Services Tax collections hit their third-highest monthly level in July to cross ₹1.82 lakh crore, with revenue growth recovering to 10.3% from a three-year low of 7.6% in June. Gross revenue from domestic transactions grew 8.9% in July, easing from 9.4% recorded in June, but growth in taxes collected on imports bounced 14.2% from just 2.4% …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
8 months ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times  

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
8 months ago

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways

Hindustan Times  

Finance minister Nirmala Sitharaman on Tuesday proposed the much-awaited change in the income tax slabs as she tabled the first Union Budget of the new Narendra Modi government. "Under the new tax regime, tax rate structure to be revised as follows - ₹0- ₹3 lakh -Nil; ₹3-7 lakh -5%; ₹7-10 lakh-10%; ₹10-12 lakh-15%; ₹12-15 lakh- 20% and above ₹15 lakh-30%," …

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

Punjab sees 15% jump in tax revenue despite sluggish GST
8 months ago

Punjab sees 15% jump in tax revenue despite sluggish GST

Hindustan Times  

Chandigarh : The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25. The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25 The impressive increase came on the back of improved state excise, sales tax and …

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?
8 months, 1 week ago

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?

Hindustan Times  

The Union Budget 2024 could provide Income Tax relief for low earners looms large amid rising prices in the country. Experts believe that a reduction in Income Tax could address economic challenges in the country as Finance Minister Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2024-25 on July 23. This change would boost consumption, …

Discover Related