SEARCHED FOR:CORPORATE TAX
Advance tax mop-up falls 25.5% in Q2, led by plunge in corporate tax: Source
"Total advance tax collection in the second quarter fell by 25.5 per cent to Rs 1,59,057 crore from Rs 2,12,889 crore y-o-y. While corporates paid only Rs 1,29,619.6 crore in advance tax, down by 27.3 per cent in the reporting quarter, personal income tax collection stood at Rs 29,437.5 crore, down 15 per cent from Rs 34,632.9 crore.
Narendra Modi to launch Transparent Taxation on Thursday to ease compliance, benefit taxpayers
The launch of the platform will further carry ...
Taxing no more: How India's tax system is slowly getting better
The tax administration is making a steady but steadfast shift from being an e...
India Inc should come forward and make investment: MoS Finance Anurag Thakur
Highlighting a series of reforms, including moderation in corporate tax rate, announced by the government in the last six tears to encourage investment, the minister said that the investment by local companies would instil confidence into foreign companies to put money into India.
European Union unveils plan to clampdown on aggressive corporate tax planning regimes
EU countries are seeking to shore up public revenues to fund economic recoveries amid a public outcry over tax avoidance by corporations in particular, multinational digital giants and wealthy individuals. EU's executive - said it would expand its tax code of conduct to tackle corporate tax regimes of member states that have broadly harmful effects.
Govt amends I-T rules for faster resolution of multinational corporations' tax disputes under MAP
The Central Board of Direct Taxes (CBDT) has amended Rule 44G dealing with application and procedure for giving effect to MAP agreement, and also revised Form 34F with respect to making application to the competent authority for invoking MAP. As many as 600 tax disputes were resolved under MAP between April 1, 2014, and December 31, 2018.
View: A 'full-time' politician is best suited for the FM's job right now
Consider the circumstances. The economic shock has devastated three of the four engines of economic growth: private consumption, private investment and exports. The finance minister needs to pilot a $2.6 trillion economy on one engine: government spending. This requires greater skills in politics than economics.
Government planning incentives worth $23 billion to boost manufacturing
Prime Minister Narendra Modi’s government will offer production-linked incentives to automobile manufacturers, solar panel makers, and specialty steel to consumer appliance companies, according to documents reviewed by Bloomberg News.
Small positive growth may not be ruled out in FY21, says Rangarajan
The Indian economy was in a troubled state when the pandemic hit the world. Before COVID-19 crisis hit India, the economy was already decelerating, real GDP growth had moderated from 7.0 per cent in 2017-18 to 6.1 per cent in 2018-19 and 4.2 per cent in 2019-20.
CBDT notifies forms for firms to avail lower corporate taxes
The move comes after the government had slashed corporate tax rate last year in September as a measure to boost economic activity. The base corporate tax for existing companies was brought down to 22% from the current 30% while for new manufacturing firms, the tax was reduced to 15 per cent from the current 25 per cent.
View: The taxman’s reach is growing. Here's how to ensure taxpayers' rights are protected
Expanding the coverage of the statement of financial transactions (SFT) — annual information returns, in its earlier avatar, obtained from various sources — that identify potential taxpayers by examining spending patterns is fine. The only limit on how much data is collected is the tax department’s ability to use what is collected, while safeguarding data against misuse.
CBDT issues refunds worth Rs 98,625 crore till September 1, 2020
The refunds have been issued since April 1, 2020 when the government took the decision to issue pending income tax refunds at the earliest.
Announce convergence of all corporate tax rates to 15 pc in Budget: CII
The government last year reduced corporate tax rates to 22 per cent, plus surcharge and cess. However, companies will not be allowed to avail any tax exemptions or incentives.
No more cuts in corporate tax: Abhijit Banerjee’s advice to FM
"No more cuts in corporate taxes...the corporate sector (is) sitting on cash, it is not investing, " he said.
A case for 15% corporate tax rate will improve India's competitiveness. Here's why
A 15% rate was offered to new manufacturing firms. That rate could become applicable to all companies. It will improve India’s competitiveness and compensate for other disadvantages.