Indian government meets revised tax collection targets for fiscal 2024: Official

The government has broadly met the tax collection target of over Rs 34.37 lakh crore for 2023-24 on the back of robust economic activity and improved compliance, an official said. "Overall targets for tax revenue have been met," the official told PTI.

FDI reform 2.0: Banking, defence, insurance reforms on table

New Delhi: The government is examining if foreign direct investment norms (FDI) for banking, insurance and defence can be further liberalised, after rules were relaxed for the space and satellite sectors recently.

Non-taxable income cannot be classified as 'undisclosed income' on technical grounds, ITAT holds

Income from sale of agricultural land, especially those situated in rural areas in India, is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains, irrespective of whether the sale was in cash or by account transfer.