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Direct tax collection in the fiscal year just ended has exceeded the targets with a record 6.84 lakh income tax returns being filed, officials said today.

Net direct tax collection crosses Rs 10 lakh crore mark

Tax collection during April-January of this fiscal stood at Rs 7.89 lakh crore as against Rs 12 lakh crore targeted for...

19 March 2019 1:59 PM IST

Any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs 40,000.

Govt banking on advance tax collection to meet direct tax target of Rs...

Government had earlier estimated Rs 11.5 lakh crore mop-up from direct tax collection.

15 March 2019 3:02 PM IST

Union Minister Arun Jaitley. (Photo:ANI)

'Modi makes it possible' blogs Jaitley outlining major 5 years...

Jaitley stated that for the first time in history, for five years in a row, India has been the fastest growing major...

14 March 2019 7:18 PM IST

Data analytics major SAS has created a new division to help organisations fight frauds and cyber crimes.

GST officials detect tax fraud of Rs 224 crore by 8 companies

The fake invoices generated by them involved about Rs 1,289 crore of value and input tax credit of about Rs 224 crore.

13 March 2019 12:07 PM IST

A study done by Bermello & Ajamil and commissioned by the Shipping Ministry found the cruising industry has tremendous business potential.

Taxation pulls back cruise industry

Industry potential to generate Rs 35,000 crore revenue and two-and-a-half lakh jobs.

11 March 2019 3:45 AM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

FinMin notifies Apr 1 as date for increased GST exemption limit,...

Implementation of proposals with higher turnover limit for composition schemes, would enhance ease of doing business,...

8 March 2019 11:24 AM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

Automobile dealers body seeks rollback of new GST changes

The automobile retail trade industry is around Rs 5 lakh crore with around 25,000 dealers.

7 March 2019 5:31 PM IST

The real estate sector has been limping from the past one year due to major reforms in the market brought by the centre.

Top realty players post 50 pc sales growth in 9 months of FY19

Nearly 8.9 million sqft of sales were recorded in Q3 FY2019 alone, as per ICRA data.

6 March 2019 7:07 PM IST

According to the trade data for August, 2018 while exports have shown a growth of about 19 per cent in dollar terms, the rupee realisations for the export shipments went up close to 30 per cent, said Assocham.

Apparel exports may dip 5 per cent

Even the growth post October has not been encouraging as this has been achieved due to the low base effect.

6 March 2019 1:55 AM IST

FICCI President Rashesh Shah suggested that a rate cut be facilitated in the coming quarters to spur demand and investments.

Govt has promised to lower corporate tax to 25 pc as GST revenue...

In the 2015-16 budget, govt had announced that corporate tax rate would be gradually lowered to 25% from 30% over next...

5 March 2019 4:00 PM IST

MP Shatrughan Sinha addresses during AAPs Tanashahi Hatao, Desh Bachao (Remove Dictatorship, Save Country) rally in New Delhi on Wednesday. (Photo: PTI)

Will contest from Patna Sahib, irrespective of any situation:...

Sinha held a meeting with SP chief Akhilesh Yadav in Lucknow, giving rise to speculation of his wife entering active...

3 March 2019 3:36 PM IST

The platform has reduced the turnaround time from 20-25 days to 59 minutes. (Photo: Twitter)

PSBloansin59minutes.com becomes largest fintech loan platform;...

The portal was launched in November to provide credit of up to Rs 1 crore to micro, small and medium enterprises within...

3 March 2019 12:37 PM IST