In the current fiscal year, tax and non-tax revenue collections could take a hit. The projections will need to be recalibrated in light of the uncertain environment.
Slump in corporate sector, overall slowdown in economy are key reasons, but analysts assure the slowdown is not likely to impact govt's fiscal projection for the year.
The I-T dept Thursday released time-series data on direct tax collections between 2000-01 & 2023-24, showing an increasing reliance on direct taxes versus indirect taxes.
Speaking at an event in Delhi, US Ambassador to India Eric Garcetti adds 'FDI isn't flowing into India at pace it should' & New Delhi must not view its self-reliance as 'fortress'.
The GST council must incorporate suitable provisions under the GST law to empower taxpayers to immediately remove disruptions in smooth flow of goods due to discretionary powers of authorities.
India's attractiveness as an investment destination is not based on its low tax rates. Give the super-rich basic amenities in return for the higher tax and they'll stay and pay.
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.
In the bizarre Viral Spiral that is North India’s “gareeb ki pehchan” reels, enjoying coffee, dreaming of studying in Germany, and owning an iPhone 13 are all markers of poverty.
At a discussion on civil-military relations, ex-Navy chief Arun Prakash & Lt Gen (Retd) DS Hooda flag structural gaps in defence planning, procurement & coordination.
An oil shock, monsoon fears, rampant unemployment, and the seeming inevitability of inflation are common to both eras. Indira Gandhi’s self-destructive responses are instructive today.
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