Corporate income tax News

Former Prime minister Rajiv Gandhi presented Minimum Corporate tax in union budget in 1987-88 as finance minister. The governemt estimates 75 crores extra revenue income from this tax only. here you know why government implement this tax in year 1987-88

Refunds worth Rs 1.23 lakh crore have been issued in the eight months of the current fiscal, which is 20.8 percent higher than refunds issued in the same period last year.

The net Direct Tax collections represent 38.6 percent of the total Budget Estimates of Direct Taxes for FY 2018-19.

High growth was recorded in corporate and personal income taxes.

Collections of direct taxes, which are made up of personal and corporate taxes, soared to Rs 1.90 lakh crore in April-July, an official statement said here.

Government's revenue collection from indirect tax grew by an impressive 23.9 percent during the April-January period, while that from direct tax rose by 10.79 percent.

Government's revenue collection in April to November saw indirect tax-mop up growing at an impressive 26.2 percent while that of direct tax came in at 15.12 percent.

Credai, the realtor's body, on Saturday said that housing prices unlikely to come down in primary market post demonetisation since rates are already at the lowest level.

Net direct tax collections during the April-August period has grown 15.03 percent to Rs 1.89 lakh crore, led by robust collections in personal income tax.