Corporate tax collections levied on profits of firms contracted 18% in 2020-21 to a 5-year low. There has been a sharp fall in firms filing tax returns for income ranges of above Rs 5 lakh.
Like all fashion, intellectual fashion too moves in circles. With economic disruption, growing inequality, & lack of government resources, economic practice is coming full circle.
Tax revenues declined 22 per cent from the year-ago period to Rs 4.58 lakh crore and were at 28 per cent of the full year target of Rs 16.36 lakh crore in the April-September period.
PM Modi, whose govt has set a $5 trillion economy target by 2024, asked India Inc to shun pessimism and assured them of govt support in its attempts to expand.
Finance Minister Nirmala Sitharaman made the statement as she moved the Taxation Laws (Amendment) Bill, 2019 for consideration and passage in Lok Sabha.
The government set a tax collection target of Rs 13.8 lakh crore during the interim budget in February, which was revised to Rs 13.35 lakh crore when budget was presented in July.
According to the Controller General of Accounts, tax collection until September is 2.6% lower than last year — a sign that slowdown is affecting govt revenues.
Richard Hadlee shares his birthday with his partner-in-crime Ewen John Chatfield. Together, they formed one of the greatest fast-bowling partnerships of all time.
From holding joint military exercises to exporting wheat as Russia and Ukraine stop supplies, New Delhi and Cairo are redrawing their relationship as geopolitical tensions rise.
What is Shiv Sena’s ideology? We might say it’s been a convenient mix of extreme ethnic chauvinism & unforgiving Hindutva. Within the second, the party retained space to manoeuvre.