Back to homepage

Tag "Tax collection"

Odisha’s state GST collection up 45% in June

Odisha’s state GST collection up 45% in June

🕔06:52, 7.Jul 2022

With the collection of Rs 1,247.63 crore GST (state GST), Odisha has recorded a growth of 45.27 per cent in the tax collection in the month of June as compared to the June last year. The state had collected GST

Read Full Article
Net direct tax collection reaches highest-ever figure in FY 22

Net direct tax collection reaches highest-ever figure in FY 22

🕔21:44, 26.Apr 2022

The net direct tax collections (income tax and corporate tax) reached an all time high of Rs 14.09 lakh crore in financial year 2021-22 against Rs 9.45 lakh crore collections in FY 2020-21, CBDT Chairman J.B. Mohapatra said on Tuesday.

Read Full Article
FY22 tax collection exceeds budgetary estimate, rises to over Rs 27 lakh cr

FY22 tax collection exceeds budgetary estimate, rises to over Rs 27 lakh cr

🕔07:25, 9.Apr 2022

Accelerated economic recovery along with enhanced compliance pushed India’s FY22 tax collection to Rs 27.07 lakh crore, almost Rs 5 lakh crore above the Union budget’s estimate of Rs 22.17 lakh crore. New Delhi, April 9 (IANS) Accelerated economic recovery along

Read Full Article
India’s Net Direct Tax collections up 48% YoY till March 16

India’s Net Direct Tax collections up 48% YoY till March 16

🕔08:47, 18.Mar 2022

New Delhi, March 18 (IANS) Accelerated economic recovery lifted the Centre’s net direct tax collections for FY22 (till March 16) by over 48 per cent on a year-on-year basis. According to the Ministry of Finance, net collections stood at Rs 13,63,038.3

Read Full Article
Corporate tax buoyancy lowest in five decades

Corporate tax buoyancy lowest in five decades

🕔08:55, 3.Feb 2022

New Delhi, Feb 3 (IANS) An estimation of decadal tax buoyancy (total tax revenue and other individual tax revenues) using double log model reveals that tax buoyancy of total tax revenue and income tax and corporation tax has declined in the

Read Full Article
Enhancement in basic income tax exemption limit of Rs 2.5 lakh highly awaited

Enhancement in basic income tax exemption limit of Rs 2.5 lakh highly awaited

🕔07:21, 22.Jan 2022

New Delhi, Jan 22 (IANS) On the individual tax front, 64 per cent respondents expect an enhancement in the basic income tax exemption limit of Rs 2.5 lakh, according to a KPMG survey. When asked about the most anticipated change for

Read Full Article
Centre releases Rs 95,082 cr to states as tax devolution

Centre releases Rs 95,082 cr to states as tax devolution

🕔17:00, 20.Jan 2022

New Delhi, Jan 20 (IANS) The government on Thursday released a total of Rs 95,082 crore to states with an advance instalment of tax devolution amounting to Rs 47,541 crore. This is almost double their respective entitlement during the month of

Read Full Article
Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

🕔19:28, 1.Jan 2022

New Delhi, Jan 1 (IANS) India’s GST collection rose 13 per cent in December 2021 on a year-on-year basis to Rs 1,29,780 crore. However, December’s collections declined on a sequential basis from Rs 1,31,526 crore reported for November. “The revenues for

Read Full Article
Net Direct Tax collections up 60.8% YoY

Net Direct Tax collections up 60.8% YoY

🕔07:17, 18.Dec 2021

New Delhi, Dec 18 (IANS) Accelerated economic recovery, as well as easing Covid restrictions, have lifted the Centre’s net direct tax collections for FY22 (till December 16) by over 60 per cent on a year-on-year basis. According to the Ministry of

Read Full Article
Centre releases Rs 95,082 cr as 2 instalments of tax devolution to states

Centre releases Rs 95,082 cr as 2 instalments of tax devolution to states

🕔20:27, 23.Nov 2021

New Delhi, Nov 23 (IANS) The Centre has released two instalments of tax devolution to state governments amounting to Rs 95,082 crore as against the normal monthly devolution of Rs 47,541 crore to help them mobilise resources for stepped up capital

Read Full Article
Net Direct Tax collections see 74.4% growth over pre-pandemic levels

Net Direct Tax collections see 74.4% growth over pre-pandemic levels

🕔18:28, 24.Sep 2021

New Delhi, Sep 24 (IANS) In a clear signal that the economy is on path of fast recovery post the pandemic disruptions, the government’s net direct tax collections for FY22 so far (till September 22) have grown by a staggering 74.4

Read Full Article
Transparent taxation most beneficial govt initiative amid pandemic: Survey

Transparent taxation most beneficial govt initiative amid pandemic: Survey

🕔06:49, 9.Sep 2021

New Delhi, Sep 9  From being cautious to being optimistic, India Inc’s business sentiments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter, a Grant Thornton Bharat Survey said on Wednesday. The government’s

Read Full Article
Net direct tax collection in FY21 down 13%

Net direct tax collection in FY21 down 13%

🕔19:17, 17.Dec 2020

New Delhi, Dec 17 Tax collection has been subdued amid the pandemic and the net direct tax collections so far in the current financial year declined by 13 per cent to Rs 5.87 lakh crore, sources said. During the corresponding period

Read Full Article
Direct tax refunds of over Rs 1.36 lakh cr issued in FY21

Direct tax refunds of over Rs 1.36 lakh cr issued in FY21

🕔07:04, 19.Nov 2020

New Delhi, Nov 19  The Central Board of Direct Taxes (CBDT) on Wednesday said that it has issued direct tax refunds refunds of over Rs 1.36 lakh crore to over 40 lakh taxpayers so far in FY21. The total refunded

Read Full Article
Foreign remittance above Rs 7L to attract 5% tax from Oct 1

Foreign remittance above Rs 7L to attract 5% tax from Oct 1

🕔14:13, 10.Sep 2020

New Delhi, Sep 10 Tax collection at source (TCS) on foreign remittances will only be applicable on the amount in excess of Rs 7 lakh in a financial year and not on the total amount. The TCS on foreign remittances kicks

Read Full Article
Evolving taxation: Weighted GST rate declines to 11.6% since inception

Evolving taxation: Weighted GST rate declines to 11.6% since inception

🕔17:49, 24.Aug 2020

New Delhi, Aug 24  The Goods and Services Tax (GST), often hailed as the “biggest tax reform” in India, has evolved over the years, and the weighted rate of GST has declined in the past few years to 11.6 per

Read Full Article
CBDT meets officials to dispel doubts on faceless tax collection

CBDT meets officials to dispel doubts on faceless tax collection

🕔13:19, 19.Aug 2020

New Delhi, Aug 19  The government has assured income tax officials that implementation of the new faceless and contactless tax administration would not cause any large-scale movement of officers or officials and all the changes would be done within the

Read Full Article
Panel set up to boost GST revenue after sharp collection dip

Panel set up to boost GST revenue after sharp collection dip

🕔17:00, 10.Oct 2019

New Delhi, Oct 10  The GST Council on Thursday constituted a committee of officers to improve revenue after the September Goods and Services Tax (GST) collection dropped sharply to a 19-month low of Rs 91,916 crore, reflecting weak consumer demand.

Read Full Article
Direct tax collections at Rs 6.75 lakh cr till November

Direct tax collections at Rs 6.75 lakh cr till November

🕔13:21, 10.Dec 2018

New Delhi, Dec 10  Showing an increase of 15.7 per cent over the last year, the gross direct tax collections till November stood at Rs 6.75 lakh crore, according to provisional figures released on Monday. This was despite a 50

Read Full Article
68% rise in crorepatis since 2014, tax returns up 80%: CBDT

68% rise in crorepatis since 2014, tax returns up 80%: CBDT

🕔06:54, 23.Oct 2018

New Delhi, , Oct 23  The number of individual taxpayers with income above Rs 1 crore has gone up by 68 per cent in the last four financial years, the Income Tax Department said on Monday. The Central Board of

Read Full Article