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Centre releases Rs 72,961.21 cr as additional installment of tax devolution to states

New Delhi: The Centre has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to the states, the Ministry of Finance said on Friday.

GST collection surges 15% YoY to Rs 1.68 trillion in November

New Delhi: Highlighting the ongoing robust activity in the Indian economy, the collection of goods and services tax (GST) witnessed a substantial 15% year-on-year surge in November.

Gross Direct Tax collection grows 18% YoY to Rs 12 lakh cr up to Nov 9

New Delhi: The Direct Tax collections up to November 9, 2023, continued to register steady growth with the Gross Direct Tax collections witnessing a 17.59% growth to Rs 12.37 lakh crore, compared to the corresponding period of last year.

Direct Tax collection in Oct FY24 crosses Rs 11.07 lakh cr

New Delhi: The gross direct tax collections in October, so far, surpassed Rs 11 lakh crore, reaching Rs 11.07 lakh crore, the Finance Ministry said in a statement on October 10.

Online real money gaming companies served Rs 55,000 cr GST demand notice: Report

New Delhi: The Directorate General of GST Intelligence (DGGI) has issued approximately a dozen pre-show cause notices to online real money gaming (RMG) companies for goods and services tax dues totaling around Rs 55,000 crore, ET reported.

Net direct tax mop-up rises 23.5 pc in FY24 till mid-September

New Delhi: The Centre's tax kitty continues to swell on the back of strong economic growth. The latest data shows net direct tax collections rose 23.51% year-on-year to Rs 8.65 lakh crore in the current financial year till September 16 as against Rs 7 lakh crore in the same period a year ago.

Legal framework for accounting and taxation professionals in GIFT City soon: Sitharaman

Gandhinagar: Union Finance Minister Nirmala Sitharaman on Saturday said that a comprehensive legal framework for accounting and taxation professionals will soon be in place to enable them to provide services to the world, making GIFT City the global hub for accounting and financial back-office functions.

Direct tax collection grows 17% to Rs 5.84 lakh cr so far this fiscal

New Delhi: Net direct tax collection in the current fiscal year up to August 10 stood at Rs. 5.84 lakh crore, 17.33% higher than the net collections for the corresponding period of last year.

Higher TCS levy on overseas spending postponed by 3 months to Oct 1

New Delhi: The Finance Ministry said on Wednesday that the implementation of the increased Tax Collected at Source (TCS) on overseas spending would be delayed by three months from the initial deadline of July 1.

Gross Direct Tax collections for FY 2023-24 grow of 12.73%

New Delhi: Direct Tax collections for the Financial Year 2023-24, as on June 17, show that net collections are at Rs 3,79,760 crore, compared to Rs. 3,41,568 crore in the corresponding period of the preceding Financial Year i.e. FY 2022-23, representing an increase of 11.18%.

May GST collection grows 12% YoY to Rs 1,57,090 cr

New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.

Govt increases the limit for tax exemption on leave encashment for non-government salaried employees

New Delhi/IBNS: The government has increased the tax exemption limit on leave encashment of non-government salaried employees from Rs 3 lakh to Rs 25 lakh.

Sept GST collection rises to Rs 1.52 lakh cr

India's GST collection rose to Rs 1.52 lakh crore in Goods and Services Tax (GST) in September, the second-highest ever collection, according to the finance ministry said on November 1.

Centre to release Rs 47,541 crore as advance installment of tax devolution to states

New Delhi/UNI: Finance Minister Nirmala Sitharaman on Thursday authorised the release of Rs 47,541 crore as an advance installment of tax devolution to states.

Tax Planning: Top 7 Ways to Save Tax Legally in India

Shyam: Rohan, I feel there is no need to work for these long hours.