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Personal Income Tax

MCA Complete Annual Case Digest 2025: Year in Review of Corporate Law Enforcement

This Annual Digest analytically summarises all MCA rulings in 2025, as reported at Taxscan.in Non-Disclosure ofRelated Party Transactions...

Direct Tax Collections Rise 8% to ₹17.04 Lakh Crore, Boosted by Strong Corporate Advance Tax

Living Tax-Free: Countries Where Personal Income Tax Doesn’t Apply

Move Here to Pay No Income Tax: Top Tax-Free Countries in 2025

Oman to Introduce Personal Income Tax in 2028,First in GCC

Do the GCC Countries impose Personal Income Tax on their Residents?

1. What led to the tax reforms in GCC countries? A: Due to the unpredictable rates on oil and gas the GCC came up with the idea of tax reforms. However, as they aim to diversify their...

GCC - income tax gulf countries - economic diversification strategies - Taxscan

Kuwait Cabinet affirms Bill for Imposing 15% Corporate Tax on Multinational Entities

The Cabinet of Kuwait recently passed a bill calling for the imposition of 15% Corporate Tax on business entities in Kuwait that operate simultaneously in multiple global jurisdictions. The...

Kuwait Cabinet affirms Bill - Kuwait Cabinet - affirms Bill - Corporate Tax - Corporate Tax on Multinational Entities - taxscan

Budget 2024: FM Propose to Increase Standard Deduction under Income Tax Act for Salaried Employees [Read Bill]

The Union Finance Minister ( FM ) Nirmala Sitharaman presented the full-budget 2024 today before the parliament at 11 am. In regard to Personal Income Tax Rates, the FM announced the proposal to...

Budget 2024 - Budget - Finance Minister - Nirmala Sitharaman - salaried employees tax changes - tax deduction for salaried employees - taxscan

Oman might be the First GCC Country to impose Personal Income Tax

Oman is set to break new ground within the GCC by considering the implementation of a personal income tax targeting high-earning individuals, both citizens and expatriates. Currently, no personal...

Direct Tax Collections for FY 2023-24 grow 18.74% YoY

The Ministry of Finance has shown an unprecedented growth in India's Direct Tax collections for the Financial Year ( FY ) 2023-24 where the Gross Direct Tax Collections surged by 18.74%. The...

India's Direct Tax-to-GDP Ratio Hit 15-year High of 6.11 % in 2022-23

India's direct tax-to-GDP ratio hit a 15-year high of 6.11 per cent in 2022-23, hovering near its peak of 6.3 per cent reached in 2007-08, according to data released by the Central Board of Direct...

Direct tax - CBDT - GDP - Interim Budget 2024 - Central Board of Direct Taxes - Finance Minister India - TAXSCAN

Budgetary Milestone: Direct Tax Collections Hit Rs. 14.70 Lakh Crore, Making Up 80.61% of FY 2023-24 Budget Projections

As of January 10, 2024, India's Direct Tax collections have depicted a robust and consistent growth trajectory, signifying a commendable performance in the country's fiscal domain. The provisional...