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 2024Tenants 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 2024Taxpayers 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 2024The anti-profiteering regime was intended as a transitional arrangement when indirect tax reforms were introduced in July 2017.
2 min read1 Oct 2024Chevron 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 2024The 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 2024We 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 2024It’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 2024Data 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 2024Personal 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 2024The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
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