#Tax

9 April.New Delhi, Delhi, India
Income tax collection in the previous fiscal stood at Rs 4.71 lakh crore. (Photo Credit: Representational Image/Pixabay)
#Tax#IncomeTax#Economy

  • Net direct tax collection for FY 2020-21 stood at Rs 9.45 lakh crore
  • The revised estimate for it in the Union Budget stood at Rs 9.05 lakh crore
  • The net corporate tax collection stood at Rs 4.57 lakh crore

Edited byShubhangi Shahwith inputs from PTI
5 April.New Delhi, Delhi, India
US Treasury Secretary Janet Yellen says US is persuading to adopt a global minimum corporate tax. (Photo Credits: Twitter/@SecYellen)
#USA#JoeBiden#Tax

  • Yellen said a collective international effort would end the "race to the bottom" on taxation 
  • President Joe Biden announced the plans to raise corporate taxes to finance a massive $2 trillion infrastructure and jobs program
  • His plan would raise the US corporate tax rate to 28% and the minimum for multinationals to 21%

Edited byKetan Barotwith inputs from AFP
18 March.Washington D.C., DC, USA
Democratic representatives in the House Ways and Means Committee have already pushed for an extension in the deadline. (Photo Credit: Representational Image/Unsplash)
#InternalRevenueServices#Tax#UnitedStates

  • Around 24 million tax return filings are pending with the IRS
  • The new dealine is expected to range between April 15 and May 17
  • An official announcement by the IRS is still awaited

ByAman Butani
14 March.Washington D.C., DC, USA
US President Joe Biden is yet to give a solid policy for taxes in America (Photo Credit: AFP)
#JoeBiden#Tax#UnitedStates

  • Members of the Democratic Party have previously demonstrated support for such tax policies
  • Yellen noted that exceptionally low interest rates have greatly reduced the cost of government borrowing
  • A previous proposal demanded a 2% tax rate for those having more than $50 million

ByAman Butaniwith inputs from AFP