President Donald Trump has announced to establish the External Revenue Service to "tariff and tax foreign countries" instead of taxing US citizens.
India's fiscal deficit is expected to shrink further, on the back of growing tax revenues, according to a World Bank report.
Justin Trudeau’s resignation as Canada’s Prime Minister marks the close of an era that began with immense hope but ended amid growing challenges and dissatisfaction.
During its 55th meeting, the GST Council clarified that tax treatment for popcorn would depend on its flavour and the way it was sold; while popcorn sold loose will be taxed at 5 per cent, GST on popcorn will incre a se to 12 per cent if it was sold in packets under a brand name, while caramelised popcorn would be taxed at 18 per cent.
The year 2024 saw the Central Board of Direct Taxes (CBDT) prioritising the speedy processing of returns and refunds, with over Rs 2.35 lakh crore refunded and more than 3.87 crore Income Tax Returns (ITRs) processed within 7 days.
The Centre on Sunday clarified that it is not mandatory for every citizen to get a tax clearance certificate to fly abroad.
There was a total net inflow of Rs 2,82,338 crore for both equity and debt in FY24.
Former American President Donald Trump has promised to end outsourcing if re-elected, which should sound alarm bells across India's multi-billion-dollar outsourcing industry whose largest customer is the US,
It comprises Rs 3,19,036 crore Tax Revenue (Net to Centre), Rs 2,51,722 crore of Non-Tax Revenue and Rs 2,087 crore of Non-Debt Capital Receipts, on account of Recovery of Loans.
Lately, the debate over wealth taxation has intensified, with proponents arguing for its role in addressing income inequality and funding social programmes. However, implementing a wealth tax is not without its challenges and drawbacks.
