The total revenue impact of major tax incentives for Individual/HUF taxpayers for last five years is Rs 8,69,907.40 In comparison, the total revenue impact of major tax incentives for corporate ...

The government has reported a rise in direct tax collections and foreign investment inflows following corporate tax rate reductions, effective from AY 2020-21 (except the pandemic-affected FY 2020-21) ...

Government of India provided details on GST collections over the past five financial years, showing a steady increase in revenue from both domestic sources and imports. However, it does not maintain ...

Between July 2017 and December 2024, 1,386 cases of GST evasion were recorded in Punjab, involving approximately ₹6,454 crore. Authorities arrested 72 individuals linked to thes ...

(a) whether the Ministry is aware of the impact of high GST rates on health insurance policies; (b) if so, whether there is any proposal to abolish or to drastically reduce the 18 per cent GST on ...

Corporate tax collections in India, as a percentage of GDP, have varied over the past five years, starting at 2.8% in FY 2019-20 and reaching a provisional 3.1% in FY 2023-24. Collections dropped to 2 ...

Ministry of Finance addressed revenue loss and benefits related to tax incentives for corporates. From Assessment Year (AY) 2020-21 to AY 2024-25, companies claimed various income tax exemptions and ...

Ministry of Finance addressed refund settlements for Income Tax Returns (ITRs) filed for Assessment Year 2024-25. Of the 3.98 crore ITRs claiming refunds, 3.94 crore were verified by taxpayers, making ...

Government of India has reaffirmed that drilling borewells for agricultural purposes remains exempt from GST. This exemption was carried over from the Service Tax regime, where su ...

Ministry of Corporate Affairs (MCA) reported 80.26 lakh form filings on the MCA21 platform from April 2024 to January 2025, up from 73.29 lakh during the same period last year. Of these, 53.08 lakh ...

The Finance Bill 2025 proposes to extend the validity of registration from five years to ten years for charitable trusts and ...

iv. The cashier and customers were not examined as witnesses in the departmental Therefore, it was a case of no evidence.