tax collection

Your international trips are about to get a tad more expensive and cumbersome from July as every dollar now spent abroad will incur a 20 per cent tax collected at source (TCS). International credit cards will no longer be exempted from…

By Madan Sabnavis The idea of having tax collection at source (TCS) on credit-card payments raises some finer points on the remittance policy of the country as well as the effective use of technology. To begin with, having credit-card…

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The central government's fiscal deficit at end-January worked out at 58.9 per cent of the annual budget target for 2021-22, according to official data released on Monday. The fiscal deficit was 66.8 per cent of Revised Estimate (RE) of…

India will be among only a few economies in the world to rebound strongly from COVID-19 induced economic contraction of 2020-21, a Finance Ministry report said assuaging that the Omicron variant's impact on the economy will be less severe…

The net direct tax collection grew nearly 68 per cent during April 1 to November 23 to more than Rs 6.92 lakh crore, Minister of State for Finance Pankaj Chaudhary said on Monday. "The Net Direct Tax Collection figures for the FY- 2021-22…

The government has budgeted a 9.5% growth in tax collections at ₹22.2 lakh crore for 2021-22 fiscal The government has budgeted a 9.5% growth in tax collections at ₹22.2 lakh crore for 2021-22 fiscal With the net direct tax collection…