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Taxation Laws Amendment Bill to impact retro tax cases of Cairn Energy, Vodafone

Taxation Laws Amendment Bill to impact retro tax cases of Cairn Energy, Vodafone
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Net direct tax collections double to over Rs 1 85 lakh crore this fiscal

Net direct tax collections have doubled to over Rs 1.85 lakh crore so far this fiscal, buoyed by personal income tax and advance tax payments, the I-T department said on Wednesday. Tax experts said the Vivad se Vishwas scheme could have boosted the collections. Mop-up of net direct tax (which is arrived at after deducting refunds from gross collection) between April 1-June 15 was at Rs 1,85,871 crore, a 100.4 per cent growth over  Advertisement Rs 92,762 crore collected in the same period last fiscal, the Central Board of Direct Taxes said in a statement. Refunds of Rs 30,731 crore have been issued in the current fiscal.

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