What latest tax data says about income inequality
Both pre-pandemic slowdown and pandemic crisis disproportionately hurt lowest income group, while sparing others.
Both pre-pandemic slowdown and pandemic crisis disproportionately hurt lowest income group, while sparing others.
ITR forms have been notified in advance in order to enable filing of returns from the beginning of the ensuing assessment year.
When compared with the old tax regime, income tax rates under the new proposed tax regime are undoubtedly higher, says Aarti Raote of Deloitte India.
Gold prices are going up to record levels denting retail sales during the peak festive season.
PHDCCI has suggested several tax measures such as tweaks in Section 54 of I.T. Act to boost the real estate sector.
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.
Fiscal deficit in H1 of FY 2022-23 was about ₹6.20 lakh crore which was about 37.3% of budget estimate (BE) 2022-23.
At 28%—the highest slab of GST—and a compensation cess ranging between 1% and 22%, India's policy of heavily taxing passenger vehicles is dulling the prospects of growth in the industry, says Bhargava
It wants UK’s tax cuts aimed at benefitting high-income earners to be reversed fearing higher inequality; alas little lessons learnt from India’s tax regime.
Overall taxes on gold now rise sharply from 14% to around 18.45%.