The Central Board of Direct Taxes (CBDT) on Thursday issued guidelines seeking to address likely issues emanating from application of the newly introduced section 194R of the Income Tax Act for withholding 10% tax (TDS) on benefits or perquisites from non-salary sources. The new provision part of the Finance Act 2022 will become effective from […]
Higher tax revenues will enable the government to minimise additional borrowing requirements, despite a fiscal expansion of close to Rs 2 trillion over the FY23 Budget estimate, provided no significant further relief measures are rolled out, analysts said. The total additional expenditure is seen about Rs 2 trillion on account of higher subsidies on fertilisers, […]