Corporate Tax News

Since FY 2021-22, the growth in net direct tax collection has been robust, Minister of State for Finance, Pankaj Chaudhary, told the Lok Sabha in a written reply.

The I-T department recently launched the 'e-Pay Tax' feature which aims to simplify tax-related procedures for taxpayers.  

Securities Transaction Tax (STT) mopped up Rs 21,599 crore, while other taxes (which include equalisation levy and gift tax) earned Rs 1,617 crore. 

Corporate tax collection grew by 34% in first four months of FY 2022-23. Corporate tax collections during FY 2021-22 stood at ₹ 7.23 lakh crore registered growth of over 58 %. The positive trend continues except FY 2020-21 due to Covid-19 pandemic.

The central government informs about sources of income in union budget custom duty excise duty income tax corporate tax and many more

CBDT issues refunds of over Rs. 45,896 crore to more than 21.32 lakh taxpayers between 1st April 2021 to 2nd August 2021. Income tax refunds of Rs. 13,694 crore have been issued in 20,12,802 cases. Corporate tax refunds of Rs. 32,203 crore have been issued in 1,19,173 cases.

Know about the new rules to be implemented across the country from today. These rules will impact your pocket. Watch to know more.

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