Tax Base Increase

Property tax rates may go up marginally in Delhi if the report of the MCD's fifth Municipal Valuation Committee (MVC) is implemented which recommends a 37 per cent increase in base unit area value, officials said on Wednesday.

The number of income tax returns has increased in FY22 over the previous fiscal,Central Board of Direct Taxes Chairman Sangeeta Singh said on Saturday.

In an interview, Danniil Egorov, head of the Russian Federal taxation Service said that these decentralised crypto tokens are capable of causing “significant erosion” to Russia’s tax base.

GST rates can be reduced further once the tax base increases and everyone pays taxes properly, Finance Secretary Ajay Bhushan Pandey said on Thursday.

Samsung Galaxy A50s price in India has been cut, making it cheaper by Rs. 2471 for the base variant. The smartphone can now be purchased at a starting price of Rs. 18,599. This comes after the price of the phone had been increased by Samsung owing to an increase in tax rates in India.

GST reduction and incentive based scrappage policy are the need of the hour, but all indirect benefits should curb liquidity crisis and uplift general customers' sentiment.

The number of salaried and non-salaried taxpayers saw an increase between 2014-15 and 2017-18 assessment years (AY) and it was a result of continuous efforts of the department initiated for widening and deepening the taxpayer base in the country, it said.

IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

Belated income tax return: The taxman has stipulated a penalty amount ranging from Rs 5,000 to Rs 10,000 for filing of income tax return for assessment year 2018-19 after August 31, 2018. The amount of money charged as penalty or fine for a belated ITR increases based on the degree of delay.

Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.

The proposal aims at increasing the tax bill of firms accused by large EU states of paying too little in tax by re-routing their EU profits to low-tax countries.

If the government is to be believed, the ban on high-value currency led to a significant surge in India's tax base over the past year. To back this claim, the government has released a deluge of data. Including the claim that that there was a 25 per cent increase in tax returns in the April-August 2017 period, compared to the same period last year....

Demonetisation was never a political decision, BJP general secretary Ram Madhav said today and insisted that the move had increased the tax payers base and black money had been disclosed.

With the new additional 7 per cent cess levied on all SUVs, manufactures in India have been forced to increase prices of their vehicles. The recently launched Jeep Compass SUV that has already seen over 10,00 bookings has also undergone a price hike. The Jeep Compass will be pricier by between Rs 21,000 to Rs 72,000 depending on the variant and eng...

Property tax rates may go up marginally in Delhi if the report of the MCD's fifth Municipal Valuation Committee (MVC) is implemented which recommends a 37 per cent increase in base unit area value, officials said on Wednesday.

The number of income tax returns has increased in FY22 over the previous fiscal,Central Board of Direct Taxes Chairman Sangeeta Singh said on Saturday.

In an interview, Danniil Egorov, head of the Russian Federal taxation Service said that these decentralised crypto tokens are capable of causing “significant erosion” to Russia’s tax base.

GST rates can be reduced further once the tax base increases and everyone pays taxes properly, Finance Secretary Ajay Bhushan Pandey said on Thursday.

Samsung Galaxy A50s price in India has been cut, making it cheaper by Rs. 2471 for the base variant. The smartphone can now be purchased at a starting price of Rs. 18,599. This comes after the price of the phone had been increased by Samsung owing to an increase in tax rates in India.

GST reduction and incentive based scrappage policy are the need of the hour, but all indirect benefits should curb liquidity crisis and uplift general customers' sentiment.

The number of salaried and non-salaried taxpayers saw an increase between 2014-15 and 2017-18 assessment years (AY) and it was a result of continuous efforts of the department initiated for widening and deepening the taxpayer base in the country, it said.

IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

Belated income tax return: The taxman has stipulated a penalty amount ranging from Rs 5,000 to Rs 10,000 for filing of income tax return for assessment year 2018-19 after August 31, 2018. The amount of money charged as penalty or fine for a belated ITR increases based on the degree of delay.

Union minister Arun Jaitley said today there was an increase of 18 per cent in direct taxes last year due to the Goods and Services Tax or GST and demonetisation. In the last four years of NDA government, there has been an increase of 1.5 per cent in overall taxes, the minister said.

The proposal aims at increasing the tax bill of firms accused by large EU states of paying too little in tax by re-routing their EU profits to low-tax countries.

If the government is to be believed, the ban on high-value currency led to a significant surge in India's tax base over the past year. To back this claim, the government has released a deluge of data. Including the claim that that there was a 25 per cent increase in tax returns in the April-August 2017 period, compared to the same period last year....

Demonetisation was never a political decision, BJP general secretary Ram Madhav said today and insisted that the move had increased the tax payers base and black money had been disclosed.

With the new additional 7 per cent cess levied on all SUVs, manufactures in India have been forced to increase prices of their vehicles. The recently launched Jeep Compass SUV that has already seen over 10,00 bookings has also undergone a price hike. The Jeep Compass will be pricier by between Rs 21,000 to Rs 72,000 depending on the variant and eng...