Twenty states conducted amnesties. Record collections were made by New York ($360 million) and Illinois (income tax amnesty dollars 3.4% of collections). Amnesties took in dollars that would probably ...

In the previous budget, the government introduced significant reforms under the Direct Tax Vivad Se Vishwas Scheme 2024, ...

In a media release, the Ministry of Finance reminded the public that the extended Tax Amnesty covers penalties and interest in relation to the following unpaid taxes for previous years and the year of ...

Although the controversial tax amnesty that captured national attention ... encourage taxpayers to voluntarily regularize undeclared income and profits before January 1, 2024.

However, it should also not be forgotten that the tax amnesty program brings along costs (for the designing, marketing and running of the program, while waived fees and penalties also form a source of ...

The backlog of appeals at various layers of tax litigation/dispute resolution is not only huge, but growing even in proportion to the tax revenues. (Image/Freepik) India has seen multiple tax amnesty ...