LIC share surges up to 8% post ₹21,741 cr refund from I-T
Life Insurance Corporation has received refund orders for 7 financial years from the I-T dept; the total amount of refund was ₹25,464.46 cr
Life Insurance Corporation has received refund orders for 7 financial years from the I-T dept; the total amount of refund was ₹25,464.46 cr
CBDT Chairman Nitin Gupta said robust tax collection numbers projected in the budget are attributable to multiple factors, including higher compliance.
Sanjay Kumar Agarwal, chairman, Central Board of Indirect Taxes and Customs (CBIC), tells Fortune India what is driving the buoyancy in GST (goods and services tax) revenues.
FM says over the last 10 years, direct tax collections have trebled and return filers have swelled 2.4 times
There are a large number of petty, non-verified, non-reconciled or disputed direct tax demands many of them dating back as far back as 1962, says Nirmala Sitharaman.
Record 8.18 crore Income Tax Returns (ITRs) filed in FY24.
Keeping General Elections 2024 in mind, govt may surprise the middle class with some bonanza on housing, income tax or consumption front
Of this, 29.5 lakh tax audit reports have been filed for the assessment year 2023-24, and other audit reports in form no. 29B, 29C, 10CCB etc, says the finance ministry.
The net direct tax collections include corporation tax at ₹4,16,217 crore (net of refund) and personal income tax including securities transaction tax at ₹4,47,291 crore (net of refund).
The average income is expected to touch ₹50 lakh in 2047, says SBI Research