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ADVANCE TAX SHORTFALL
Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...- Jefferies raises Titagarh Rail target price by 23%. Check upside potential and key triggersTitagarh Rail Systems shares rose after Jefferies increased its target price. The brokerage noted a strong quarter and improving execution....
- Direct tax mop-up misses FY26 target; Collections rise 5%India's direct tax collections saw a modest rise in FY26. However, the total mop-up missed the revised target by ₹81,000 crore. Both corpor...
- Net direct tax kitty swells 8% on strong India Inc showNet direct tax collections have risen 8% to ₹17.05 lakh crore by December 17, driven by strong corporate tax payments and reduced refunds. ...
- Advance tax deadline September 15, 2025: How much penal interest you need to pay if you miss due dateTaxpayers with liabilities exceeding Rs 10,000 must pay advance tax in quarterly instalments. The Q2 deadline for FY 25-26 is September 15,...
- FinMin notifies corrigendum to I-T Bill on interest for advance tax short-paymentThe finance ministry has issued a corrigendum to the Income Tax Bill, clarifying the interest to be levied on short payment of advance tax....
- Has the penal interest increased from 1% to 3% on advance tax payment in the new income tax bill 2025? Here’s what CAs sayThe Income Tax Bill 2025 initially contained a drafting error regarding interest calculation for advance tax payment shortfalls. The Lok Sa...
- Advance tax without CII: Indexation helps property sellers save LTCG tax, but CII not being notified for FY26, what should they do?Property sellers who bought property before July 23, 2024, can lower capital gains tax using the cost inflation index (CII). However, the C...
- Missed advance tax deadline? To avoid another interest charge you must pay off any remaining advance tax liability before March 31Advance tax: Incase you have missed the advance tax deadline of March 15, 2025 for FY 2024-25 then don't worry at once pay it off before Ma...
- Direct tax mopup surges 22.6% to Rs 16.68 lakh croreThe collection is 96.7% of the budget estimate for FY23 and 83.2% of the upward revised estimate for the year, the Central Board of Direct ...
- Budget 2022: Consequences for TDS shortfall are borne by the employee who has switched jobsThe Bombay Chartered Accountants’ Society (BCAS), in its pre-budget memorandum, has submitted: “Because of short deduction by the employer ...
- Indian economy to see positive growth from third quarter onward: Tarun Bajaj“I'm sure that the way the parameters that we are monitoring (are going), it should actually be positive,” Tarun Bajaj said, virtually addr...
- Govt banking on advance tax collection to meet direct tax target of Rs 12 lakh crThe increase of Rs 50,000 crore in the interim Budget 2019-20 has made the task of achieving the revised target a difficult proposition for...
- Penal interest applies on late payment of advance tax: Here's how to calculate itTaxpayer is liable to pay penal interest on advance tax if he has failed to pay any advance tax or the advance tax paid is less than 90& of...
- Government may drop proposal on self-reporting of income estimatesThe proposed reporting mechanism for companies and tax audit assessees was sought to be created by way of inserting a new Rule 39A and Form...
- Changing jobs? Here's how to minimise tax impactFrom correct deduction of TDS to payment of advance tax, here’s how to deal with various taxation issues that may arise when you switch job...
- Direct tax mop up shortfall to be Rs 40,000 crore this fiscal: Hasmukh AdhiaGovt is likely to face a shortfall of Rs 30,000-40,000 cr in direct tax collection this fiscal as the mop-up in first eight months has been...
- Collection of direct tax misses target againThe direct tax collection for 2009-10 fell short of target for the second time in a row due to lower payment by foreign banks and fewer mer...
- December tax surge to help CBDT meet targetTax authorities remain positive about meeting the projected direct tax collection of Rs 3.65 lakh crore.
- Corporate advance tax mopup jumps 44%Corporate advance tax payments for October-December quarter shot up sharply, suggesting a higher profit growth in corporate sector in the t...
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