The boost in net tax collections during the final fortnight of the fiscal year was driven by personal income tax (PIT) and securities transaction tax (STT) collections.
In order to become a developed economy by 2047, India needs to optimise tax generation to spend on all-round development, including infrastructure.
Gouri Puri, Partner at Shardul Amarchand Mangaldas & Co., shared her insights on the direct tax proposals unveiled in the interim budget 2024.
Direct tax worth ₹13,70,388 cr includes corporate tax at ₹6,94,798 cr and ₹6,72,962 cr personal income tax.
As domestic companies fill up their ‘reserve’ tank, input and employee costs continue to bite.
Indian non-financial private sector debt and non-financial corporate debt as a share of GDP declined by nearly thirty percentage points in the last decade
As per the report, between April 2020 and November 2022, the wealth of billionaires in India surged by 121% or ₹3,608 crore per day.
Corporate tax reported by 8,000 unlisted companies in India dropped by 42% in FY22.
Leading experts discuss what finance minister Nirmala Sitharaman can do to give a booster shot to the Indian economy.
FM retorts to Congress’s “tax bonanza” jibe to the corporate sector by Modi govt, listing instances when corporate tax rates were reduced during Congress rule.
