The Central Board of Direct Taxes (CBDT) on Tuesday clarified that all Indian citizens are not required to obtain an income-tax clearance certificate (ITCC) before travelling to other countries. The statement was issued after an amendment was made to the Income Tax Act 1961 through the Finance Bill 2024, wherein the Black Money Act has been … Read more
Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget 2024-25 in the Parliament on Tuesday, wherein she introduced some changes to the direct taxes. FM Sitharaman made notable adjustments in the Income Tax Regulations to benefit the middle-class sector. One significant change is the 50% increase in the Standard Deduction, now … Read more
Continuing its steady growth, Direct Tax collections up till September 8 rises 35.46% over the corresponding period of last year to touch Rs. 6.48 lakh crore. “Direct Tax collection, net of refunds, stands at Rs. 5.29 lakh crore which is 30.17 % higher than the net collections for the corresponding period of last year. This … Read more