Net direct tax collection in India has grown 16% so far this financial year to approximately $119.7 billion after adjusting for refunds. This growth is driven by strong increases in personal and corporate income taxes, as well as taxes on securities trading, according to the Central Board of Direct Taxes....
India Removes “Angel” Tax, Boosts Startups
The Indian government has announced the abolition of the contentious "angel tax" for all investor classes, marking a significant development for Indian startups. Finance Minister Nirmala Sitharaman made this announcement during her annual budget speech, aiming to bolster the Indian startup ecosystem and to support innovation. Industry leaders have welcomed...
In India Income Tax Payers Increases by 50 percent
The number of people filing income tax returns in India increased by 50 percent to over 60 million so far in the assessment year 2018-19 compared to the same period a year ago. Sushil Chandra, chairman of the state-owned Central Board of Direct Taxes (CBDT) was confident that the Revenue...