What latest tax data says about income inequality
Both pre-pandemic slowdown and pandemic crisis disproportionately hurt lowest income group, while sparing others.
tax
February 2023
January 2023
December 2022
September 2022
July 2022
CBDT notifies ITR forms for assessment year 2023-24
ITR forms have been notified in advance in order to enable filing of returns from the beginning of the ensuing assessment year.
Budget 2023 Tax Reforms: How much taxes do you save?
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.
Budget 2023: Industry seeks customs duty cut on gold
Gold prices are going up to record levels denting retail sales during the peak festive season.
Budget 2023: Allow full tax deduction on home loan interest on one property, says PHDCCI
PHDCCI has suggested several tax measures such as tweaks in Section 54 of I.T. Act to boost the real estate sector.
Richest 5% Indians own over 60% of India's wealth: Oxfam
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 at 37.3% in H1FY23; lower than five-year average
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.
Heavy taxation coming in the way of growth in car market: RC Bhargava
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
What upset IMF about UK’s tax proposals?
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.
Gold import duty hike to raise retail jewellery prices and smuggling
Overall taxes on gold now rise sharply from 14% to around 18.45%.
