Data: Share of Government Employees/Pensioners Among The Personal Income Taxpayers Doubles in Last 10 Years
Data shared by the government in Parliament and data from the CBDT indicates the number…
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Review: Huge Pendency of Cases Where Prosecution is Launched by The IT Department Following Search & Seizure
Survey, Search & Seizure operations of the Income Tax department create a huge media spectacle.…
Data: As Share of Cesses & Surcharges in GoI’s Gross Tax Revenues Increases, Under Utilization & States Losing Out Are Cause For Concerns
Data indicates that the share of Cesses & Surcharges in the Gross Tax Revenue of…
Data: Net Market Loans of the Union Government crossed 10 lakh crore rupees for the first time in 2020-21
The pandemic forced all governments to increasingly rely on loans to meet expenditures. Increased debts…
Data: Actual Tax Revenues of 15 States including 6 Northeastern states were more than 90% of the estimates between 2017-18 & 2021-22
Budget estimates are an important of planning for various initiatives in the year ahead. A…
Data: As GST collections pickup, traditional frontrunner states still contribute the most to GST collections
After a major fall in GST collections in 2020-21 on account of the COVID-19 pandemic,…
Review: Public Accounts Committee report once again highlights the issue of tax exemption to ‘Agricultural Income’
The issue of tax exemption to ‘Agricultural Income’ has been contentious and debated for decades…
Data: Amount of fake ITC under GST increased to 1.5% of total GST collection in 2020-21
Input Tax Credit (ITC) is an important feature of the Goods & Services Tax regime…
Data: Excise Duty on Petrol & Diesel come to the rescue to Union Tax revenues in 2020-21
Lower tax revenues from both direct & indirect taxes were anticipated in 2020-21 because of…
Data: Utilization of ‘Cesses & Surcharges’ for the intended purpose remains a concern
As we highlighted earlier, the increase in the share of ‘Cesses & Surcharges’ in centre’s…
