Taxes News

Economy

With incentives and deductions, middle-income earners’ share in India’s tax kitty shrinks

While more middle-income earners are paying tax, their share in the government’s overall personal tax collection has declined following a series of reforms and relief measures over the years aimed at setting the balance right.

4 min read23 Oct 2024
Money

Is your landlord a non-resident Indian? Know your tax compliances.

Tenants of NRI landlords must set aside TDS from rent and transfer the amount to the government every month. Non-compliance can lead to interest, penalties, and legal repercussions.

3 min read13 Oct 2024
Money

Supreme Court upholds 90,000 tax reassessment notices issued under old regime

Taxpayers had challenged these notices, arguing they should fall under the new reassessment regime that took effect on 1 April 2021, during the covid pandemic.

4 min read3 Oct 2024
Economy

GST-related anti-profiteering regime to end in March next year, marking shift towards free pricing

The anti-profiteering regime was intended as a transitional arrangement when indirect tax reforms were introduced in July 2017.

2 min read1 Oct 2024
News

Chevron Paid More to African Petrostates Than the US in 2023

Chevron Corp. paid $6.25 billion in taxes and shared oil production to Nigeria, Angola, and Equatorial Guinea in 2023, three times more than the company paid to the US government.

1 min read25 Sep 2024
News

Telangana govt seeks 50% share in central taxes from 16th Finance Commission

The Telangana Government urged the 16th Finance Commission to raise the state’s share in Central taxes from 41% to 50% to improve fiscal space for welfare and development.

2 min read10 Sep 2024
Opinion

Thank digital tools for small businesses going formal on their own

We need to lower barriers, align benefits and offer tax gains so that businesses are incentivized to go formal. Ultimately, however, it will be for small and medium enterprises (SMEs) to realize the benefits of doing so.

4 min read10 Sep 2024
Opinion

Mint Quick Edit | Is a GST rate cut for insurance good news?

It’s good that the GST Council has reportedly reached a consensus on slashing this tax rate on life and health insurance premiums. But rate multiplicity and frequent tweaks go against reformist ideals.

1 min read10 Sep 2024
Opinion

India’s economy needs moderate corporate taxes to prosper

Data shows that Indian businesses are not undertaxed. Moreover, the tax rates we levy on companies need to be globally competitive for India to increase investment and employment that contribute to economic growth.

4 min read5 Sep 2024
Opinion

Tax overload: India’s middle class is hurting because of inequitable taxation

Personal income taxes making up a larger share of government revenue than corporate taxes raises concerns about inequality and a heavy burden on low- and middle-income households. An equitable tax policy is necessary to pave a sustainable path for economic growth.

4 min read5 Sep 2024
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