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penalty exemption: Non-linkage of PAN-Aadhaar: CBDT gives relief to tax deductors

The Central Board of Direct Taxes (CBDT) has clarified that tax deductors will not be treated as defaulters for failures in deduction of tax at a higher rate on transactions between July 1, 2023, and March 31, 2024, if the Permanent Account Number (PAN) becomes inoperative due to non-linkage with Aadhaar. This relief will be exempt from penalties, providing relief to businesses facing tax notices for shortfalls in deduction.

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The potential & problems for increasing India's GDP growth %

The Indian election circus has come to town! Every circus brings with it some Jokers and some star performers in various acts. The Indian elections 2024 have finally drawn attention to an important economic indicator...

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Provisional Net Direct Tax Collections For FY24 Exceed Budget Estimates By By 7.40%

Provisional Net Direct Tax Collections For FY24 Exceed Budget Estimates By By 7.40%
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Direct tax collections exceed estimates; jump 18 pc to Rs 19.58 lakh cr

india’s net direct tax collections surged by a massive 17.7 per cent year-on-year to rs 19.58 crore in the fiscal year ended march 2024, surpassing even revised estimates by a wide margin, the tax department said on sunday. net collections of income and corporate taxes, which make up for most of the direct taxes, in 2023-24 financial year exceeded the budget estimates by rs 1.35 lakh crore (7.40 per cent) and the revised estimates by rs 13,000 crore. the government had raised the target for direct tax colle

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India: FY24 net direct tax collections exceed budget estimation by 7.4%

Gross direct tax collections for the Financial Year (FY) 2023-24 in India touched Rs. 19.58 lakh crore, compared to Rs 16.64 lakh crore in FY 2022-23, reflecting an increase of 17.70 per cent.

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Direct tax collections shoot past budget target by Rs 1.35 lakh crore in 2023-24

The net direct tax collections for the financial year 2023-24 have clocked a double-digit growth to exceed the Union Budget Estimates (BE) by Rs 1.35 lakh crore or 7.4 per cent reflecting the strong fiscal position of the country

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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% - New Delhi Times - India's Only International Newspaper

According to the Ministry of Finance, 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…

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Tax: India's net direct tax kitty at Rs 19.58 lakh cr, exceeds revised estimates by Rs 13k cr

India's net direct tax collections surged by 17.7% year-on-year to Rs 19.58 crore in fiscal year 2023-24, exceeding revised estimates by Rs 13,000 crore, reflecting economic buoyancy and rising income levels. Gross direct tax collections (provisional) for FY 2023-24 rose 18.48% to Rs 23.37 lakh crore, with refunds totaling Rs 3.79 lakh crore.

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