In order to facilitate the various queries raised by the stakeholders following the enactment of the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, the Central Board of Direct Taxes (CBDT) has today issued a Guidance Note in the form of Frequently Asked Questions (FAQs). This note is designed to …
Read More »CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
The Central Board of Direct Taxes (CBDT), has issued Circular No. 07/2024 dated 25.04.2024 further extending the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 (the ‘Act’) upto 30th June, 2024. CBDT had earlier extended the due date for filing Form 10A/ Form 10AB by trusts, …
Read More »Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%
The provisional figures of Direct Tax collections for the Financial Year (FY) 2023-24 show that Net collections are at Rs. 19.58 lakh crore, compared to Rs. 16.64 lakh crore in the preceding Financial Year i.e. FY 2022-23, representing an increase of 17.70%. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget …
Read More »Refunds worth Rs. 2.77 lakh crore issued during 1st April, 2023 to 10th February, 2024
New Delhi. The provisional figures of Direct Tax collections continue to register steady growth. Direct Tax collections up to 10th February, 2024 show that gross collections are at Rs. 18.38 lakh crore which is 17.30% higher than the gross collections for the corresponding period of last year. Direct Tax collection, net …
Read More »DIRECT TAX COLLECTIONS MORE THAN TREBLED AND RETURN FILERS SWELLED TO 2.4 TIMES IN PAST DECADE: UNION FINANCE MINISTER
New Delhi. “Over the last ten years, the direct tax collections have more than trebled and the return filers swelled to 2.4 times”, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman said, while presenting the Interim Budget 2024-25 in the Parliament today. The Minister assured taxpayers that their …
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