Category: Articles
New Income Tax Bill: Section 80C Tax-Saving Deductions Now Under Clause 123
in Articles
New Income Tax Bill: Section 80C Tax-Saving Deductions Now Under Clause 123 The government has introduced a landmark reform in the taxation system with the New Income Tax Bill, which aims to simplify tax laws and enhance transparency. A significant change in this bill is the relocation of tax-saving deductions under Section 80C to a
Continue reading
Finance Minister Presents Budget 2025-26: A Roadmap for Growth and Development
in Articles
Finance Minister Presents Budget 2025-26: A Roadmap for Growth and Development On February 1, 2025, India’s Finance Minister presented the Union Budget for the fiscal year 2025-26 in Parliament. This highly anticipated budget outlined key economic priorities, fiscal policies, and reforms aimed at fostering sustainable growth, enhancing infrastructure, and boosting social welfare. Amidst global economic
Continue reading
Net Direct Tax Collections Rise 15% to Rs 17.78 Lakh Crore Till February 10
in Articles
Net Direct Tax Collections Rise 15% to Rs 17.78 Lakh Crore Till February 10 The Indian economy continues to showcase robust growth, as evidenced by the latest data on direct tax collections. According to official figures released by the Income Tax Department, net direct tax collections in India surged by 15% year-on-year to reach Rs
Continue reading
RBI to Conduct Rs 40,000 Crore Government Securities Purchase via OMO Auction on Thursday
in Articles
RBI to Conduct Rs 40,000 Crore Government Securities Purchase via OMO Auction on Thursday The Reserve Bank of India (RBI) has announced its plan to purchase government securities worth Rs 40,000 crore through an Open Market Operations (OMO) auction on Thursday, signaling its intent to manage liquidity in the financial system effectively. This move is
Continue reading
Net Direct Tax Kitty Swells 14.7% to Rs 17.78 Trillion Till February 10
in Articles
Net Direct Tax Kitty Swells 14.7% to Rs 17.78 Trillion Till February 10 The Indian government’s direct tax collections continue to show strong growth, with net direct tax revenues increasing by 14.7% to reach Rs 17.78 trillion as of February 10, 2024. This surge in tax collection highlights the resilience of the Indian economy, improved
Continue reading
Rupee Gains 27 Paise to Reach 86.52 Against US Dollar in Early Trade
in Articles
Rupee Gains 27 Paise to Reach 86.52 Against US Dollar in Early Trade The Indian rupee witnessed a notable appreciation of 27 paise, reaching 86.52 against the US dollar in early trade on February 12, 2024. This upward movement reflects positive investor sentiment, strong domestic economic indicators, and a stabilizing global financial environment. Factors Contributing
Continue reading
Net Direct Tax Collections Surge 15% to Rs 17.78 Lakh Crore Till February 10
in Articles
Net Direct Tax Collections Surge 15% to Rs 17.78 Lakh Crore Till February 10 The Indian economy continues to show resilience as net direct tax collections have recorded an impressive 15% growth, reaching Rs 17.78 lakh crore as of February 10, 2024. This significant rise in tax revenue indicates robust economic activity and improved compliance,
Continue reading
Reserve Bank of India Pulls Back Rupee from the Brink of 88 Against the Dollar
in Articles
Reserve Bank of India Pulls Back Rupee from the Brink of 88 Against the Dollar RBI Intervenes as Rupee Weakens to Record Lows Amid Global Pressures The Reserve Bank of India (RBI) has successfully intervened in the foreign exchange markets to prevent the Indian rupee from breaching the critical 88-per-dollar mark, reinforcing its commitment to
Continue reading
RBI to Purchase ?40,000 Crore in Government Securities via OMO Auction on Thursday
in Articles
RBI to Purchase ?40,000 Crore in Government Securities via OMO Auction on Thursday Central Bank’s Move Aims to Ensure Liquidity and Stabilize Bond Yields The Reserve Bank of India (RBI) is set to conduct an Open Market Operation (OMO) auction on Thursday, purchasing ?40,000 crore worth of government securities (G-Secs). This decision comes as part
Continue reading
CGST Officers Detect ?1.88 Trillion in GST Evasion from April to December 2024
in Articles
CGST Officers Detect ?1.88 Trillion in GST Evasion from April to December 2024 Massive Tax Evasion Uncovered Amid Increased Enforcement Efforts In a significant crackdown on tax fraud, Central Goods and Services Tax (CGST) officers detected GST evasion amounting to ?1.88 trillion during the period from April to December 2024. This staggering figure highlights the
Continue reading