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At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
New Delhi, Dec 29: Personal income and corporate tax collections are likely to rise to more than Rs 19 lakh crore in 10 years of Prime Minister Narendra Modi-led government, providing more leeway to come out with people-friendly tax measures.Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased
Two British banks, a Swiss lender, and an Emirates institution severed ties with over two dozen Indians in the last two months. These individuals had initially opened accounts under the RBI's Liberalised Remittance Scheme (LRS), allowing up to $250,000 annual investment. Some offshore banks demand a minimum balance exceeding $1 million, urging clients to use wealth management for investments, as banks earn fees, incentivizing client retention despite shrinking account balances.
You can remit money through various secured agencies as they provide a simple and convenient money transfer experience.
The 10-year Treasury yield hit 5 per cent, the highest since 2007, while the two-year yield hit 5.25 per cent, the highest since 2000