The tax department will begin gathering virtual information to trace black money with ‘Project Insight’, likely to be launched next month. It will use big data analytics to match data from social media sites to deduce disparities between spending pattern and income declaration. The taxmen will analyze mismatches to trace[Read More…]
Tag: direct tax
Govt gets Rs 42,000 crore tax in first filing under GST regime so far
Nearly Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) rule. The revenues are expected to increase further as the filing cycle closes this later this week. Reportedly, while about Rs 15,000 crore has come[Read More…]
Direct Tax Collection rises to 19% in April-July
Direct tax collections increased to 19% in the first four months of the current fiscal as demonetisation of higher denomination currency brought in more number of individuals in tax net. Collections of direct taxes, which are made up of personal and corporate taxes, soared to Rs 1.90 lakh crore in[Read More…]
![[Archives] - Tax Free Wings, by @sushmitadevmp #SanitaryNapkins](https://newsd.in/wp-content/uploads/2016/08/GST.jpg)
6 things you should know about the much debated GST bill
Ahead of the long-delayed Goods and Service Tax (GST) bill being taken up by the Rajya Sabha, the government has circulated to the MPs the amendments it has proposed in the GST bill. There has been a lot of debate over the GST; here we have simplified what the bill[Read More…]