Page 2 - Latest Updates on Tax Revenue
Fuel price surge: What India can learn from Biden and Sunak's tax policies
When the times change, policy has to adapt. Why then is New Delhi so determined to not raise rates on under-taxed forms of income and wealth, questions T N Ninan
Govt mulling ways to ease tax burden on foreign AIF investors
Such investors have had to bear higher taxes on their investment because of the goods and services tax (GST) borne by such funds, which is ultimately passed on to the investors
 "Govt mulling ways to ease tax burden on foreign AIF investors")
Divergence in revenue estimates due to early Budget or lack of discipline?
Provisional actuals of the Budget for 2020-21 have once again varied sharply from the revised estimates. The variation provides fiscal cushion, but also raises several questions
 "Divergence in revenue estimates due to early Budget or lack of discipline?")
Interest on public debt may eat away half of govt tax revenue in FY21, FY22
Expenditure on interest will account for 52.4 per cent of the central tax revenues in FY22
 "Interest on public debt may eat away half of govt tax revenue in FY21, FY22")
Budget 2021: PF interest, Ulip gains now taxable beyond a certain limit
Reduction of time span for reopening assessments will reduce fear of the taxman
 "Budget 2021: PF interest, Ulip gains now taxable beyond a certain limit")
Forward-looking Budget eases tax compliance; ball in GST council's court
Budget can be viewed as a positive and a forward-looking in line with promoting the vision of an 'Atmanirbhar Bharat', coupled with continued efforts to ease compliance and check tax evasion.
 "Forward-looking Budget eases tax compliance; ball in GST council's court")
Moody's raises doubts on higher revenue targets from tax, divestment
Moody's, while silent on the sovereign rating on the higher-than-expected fiscal deficit numbers, expressed doubts over attaining the higher revenue targets and divestment realisation
 "Moody's raises doubts on higher revenue targets from tax, divestment")
Covid spending to tax revenue: Key numbers to watch out for in Budget 2021
Here are the key numbers to watch out for in the Budget for 2021-22, which is widely expected to be a "economic vaccine" for the pandemic-battered economy.
 "Covid spending to tax revenue: Key numbers to watch out for in Budget 2021")
Budget Byte: Will the states finally get their full share of tax revenue?
The report of 15th Finance Commission, which will be released along with the Budget, will pave way for tax revenue sharing in coming years
 "Budget Byte: Will the states finally get their full share of tax revenue?")
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
India's Covid-19 pandemic fiscal cost lowest among major nations: Report
Business Standard's own calculations suggest that the Centre's fiscal impact amounts to around Rs 2.28 trillion, or around 1.2 per cent of GDP.
 "India's Covid-19 pandemic fiscal cost lowest among major nations: Report")
Advance tax collection falls 31% in Q1, corporation tax mop-up down 79%
Gross direct tax collection fell a full 31% to Rs 1,37,825 crore in the first quarter of FY21
 "Advance tax collection falls 31% in Q1, corporation tax mop-up down 79%")
Adityanath seeks ways to boost tax revenue as UP misses April target by 90%
Chairing a review meeting here, Adityanath directed the revenue minister and other senior officials to look at additional sources of revenue and accelerate tax collection
 "Adityanath seeks ways to boost tax revenue as UP misses April target by 90%")
Taxmen threaten to stall work in protest if working conditions don't change
Corporation and income tax collection for the current year is likely to fall for the first time in at least two decades
 "Taxmen threaten to stall work in protest if working conditions don't change")
Optimistic projection
Doubts emerge about the Budget's tax revenue estimates
 "Optimistic projection")
Why govt may have to lower its FY20 tax revenue target a second time
For this financial year, the Budget has already slashed the net tax revenue figures by Rs 1.45 trillion in RE to Rs 15.04 trillion, down from Rs 16.49 trillion given in the BE in July 2019
 "Why govt may have to lower its FY20 tax revenue target a second time")
Union Budget 2020: Fake invoicing under GST a non-bailable offence
Sitharaman announced that the new GST return framework and e-invoicing would be implemented from April 1, to improve compliance and plug the tax revenue leakages
 "Union Budget 2020: Fake invoicing under GST a non-bailable offence")
Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?
The government has promised to raise Rs 120,000 crore via disinvestment, and an additional Rs 90,000 crore from sale of government equity in public-sector banks and financial institutions, in 2020-21
 "Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?")
Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%
This will be the second time that the projection will be changed for the current fiscal year
 "Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%")
Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report
The total budgeted expenditure of the central government for 2019-20 is Rs 27.86 trillion.
 "Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report")
