Page 2 - Direct Tax Collection

Formal sector, administration raises tax kitty 29% in Apr-July from FY20

Year-on-year, the collections grew by 83%. This growth was misleading since it comes on a 30% drop in tax mop-up a year earlier

Securities tax mop-up at 70% of Budget target amid market rally

The STT is a direct tax payable on the value of taxable securities transactions done through a stock exchange

Liquidity in the banking system rises as govt steps up spending

Net daily liquidity absorbed from banks on July 9 was Rs 4.6 trillion, data released on Monday showed

Direct tax mop-up zooms 85% in spite of economic disruption due to Covid-19

Trend in contrast to moderation in GST collections last month

Bengaluru lone bright spot in direct tax mop-up with 7.3% growth

Hyderabad reported a 4 per cent decline with a collection of Rs 55,000 crore in FY21 against Rs 57,000 crore a year earlier.

Direct tax mop-up betters estimate for the first time in four years

With the payments of the last instalment on Monday, advance tax collection for FY21 was around 7 per cent higher than last year's

Direct tax collection inches closer to revised Budget target for 2020-21

The direct tax collection target for FY21 saw a significant fall from Rs 13.19 trillion estimated earlier in view of the economic impact of the pandemic

21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman

In a Q&A, P C Mody says while income tax slabs have been left untouched, more money is being put in the hands of taxpayers with faster refunds. Tax administration reforms will boost tax compliance

Late income-tax returns surge slows direct tax mop-up contraction

Net collection stands at Rs 6.57 trn, compared with Rs 7.24 trn a year ago

Google tax mop-up rises 64%, Bengaluru and Hyderabad top the list

This complements improvement in direct tax collection, with contraction narrowing to 9.6 per cent as on January 7

Fall in direct tax mop-up slows in November on better economic movements

Personal income tax saw contraction shrink to 13 per cent by November from 22 per cent seen up to September, on the back of lower issuance of refunds and improvement in economic conditions

Economic contraction easing? Direct tax mop-up down, but not like earlier

At 23 per cent, decline in collection was slightly better than 30 per cent seen a fortnight ago, provisional data show

Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds

Collections may come under pressure once the base effect wears off

Gross direct tax collection declines 4.92% to Rs 12.33 trn in FY20

However, the gross collections would have clocked a 8 per cent growth to Rs 14.01 trillion in 2019-20 if revenue foregone in corporate tax and Personal Income Tax (PIT) is taken into account

Fall in direct tax collection on expected lines and temporary: CBDT

The CBDT said the assertion that in spite of the tax reforms, the investment has not been picking up is not correct and is without an appreciation of the reality of the business world

Top biz headlines: ATMs to become virtual bank branches, Airtel deal & more

Here are the top 10 headlines on Tuesday morning

Refunds save the day for April direct tax collection; mop-up down 5%

Gross direct tax collection stood at Rs 41,556 crore in April, as against Rs 43,950 crore in the corresponding period last year

Coronavirus outbreak: Direct tax shortfall likely to touch a 20-year high

The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion

Govt has collected Rs 7.52 trillion direct tax in Apr-Jan: Anurag Thakur

The Revised Estimate (RE) has pegged the target for collection of direct taxes for the current fiscal, which ends on March 31, at Rs 11.70 trillion

FM introduces 'Vivad Se Vishwas' Bill in LS to settle direct tax disputes

It will not apply to prosecution cases under PMLA or IPC