 "What is Corporation Tax")
Corporation Tax
What is Corporation Tax
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Latest Updates on Corporation Tax
Corporation and personal income tax collections decline in October
Festival month saw 12% dip in direct tax revenue to Rs 88,293 cr
 "Corporation and personal income tax collections decline in October")
Corp tax collections as proportion to GDP yet to reach pre-tax cut levels
After surcharges and cesses, this tax comes to 17.01 per cent against 29.12 per cent if the companies don't opt for this tax
 "Corp tax collections as proportion to GDP yet to reach pre-tax cut levels")
Net direct tax collection surpasses RE in FY24; corp tax receipts a miss
Exceeds estimates by 0.7% to hit Rs 19.58 trn
Net direct tax collections rise 20% at Rs 18.9 trillion till March 17
At Rs 18.9 trillion, collection accounted for over 97 per cent of the revised estimates at Rs 19.45 trillion
 "Net direct tax collections rise 20% at Rs 18.9 trillion till March 17")
Direct tax collections stand at 80% of revised estimates till Feb 10
Growth in both corporation tax and personal income tax was more than the asking rate under RE
 "Direct tax collections stand at 80% of revised estimates till Feb 10")
India's direct tax collection up 17.6% to Rs 12.3 trillion till Nov 9: CBDT
Currently, the tax collection stands at 58.15% of the total Budget Estimates for FY24
 "India's direct tax collection up 17.6% to Rs 12.3 trillion till Nov 9: CBDT")
Corporation tax mop-up slips 14%; total tax collection in Q1 rises 3.38%
Excise duty mop-up falls 15%
 "Corporation tax mop-up slips 14%; total tax collection in Q1 rises 3.38%")
Corporation tax collections decline 8.19% till June 17 this year: CAG
The FY24 Budget has projected a corporation tax mop-up of Rs 9.23 trillion, up 10.5 per cent from Rs 8.35 trillion in 2022-23 (Revised Estimates)
 "Corporation tax collections decline 8.19% till June 17 this year: CAG")
Direct tax: Budget gives a blueprint for sustained high-growth trajectory
Presently, no TDS is required on interest payable in the case of listed dematerialised securities
 "Direct tax: Budget gives a blueprint for sustained high-growth trajectory")
Budget 2023: Riding on robust collections, govt realistic on tax target
The budget pegs tax revenue at Rs 33.6 trillion, which is higher by 10.4 per cent over Rs 30.4 trillion projected in revised estimates for the current financial year (FY23)
 "Budget 2023: Riding on robust collections, govt realistic on tax target")
Budget 2023-24 should clear confusion over options for personal income tax
From 2020-21 onwards, the Budget gave an option of a lower personal income tax regime to those earning up to Rs 15 lakh, provided they forgo some exemptions
 "Budget 2023-24 should clear confusion over options for personal income tax")
Union Budget 2023: Individual taxpayers can expect some relief
Experts caution that fiscal support alone may create artificial demand and jack up prices
UK PM Liz Truss reverses plan to cut corporation tax amid debacle
British Prime Minister Liz Truss has abandoned a planned cut to corporation tax, scrapping a key part of an economic plan that sparked weeks of market and political turmoil
 "UK PM Liz Truss reverses plan to cut corporation tax amid debacle")
UK scraps corporation tax hike, lifts cap on banker bonus to boost economy
The UK govt is expected to publish an emergency budget statement Friday outlining how it plans to slash taxes, tame soaring inflation and boost economic growth as a recession looms on the horizon
 "UK scraps corporation tax hike, lifts cap on banker bonus to boost economy")
Advance tax mop-up grew 17% between Apr and Sep to Rs 2.95 trillion
Net direct tax collections (net of refunds) for the current financial year have grown at 23 per cent to over Rs 7 trillion between April 1 and September 17
 "Advance tax mop-up grew 17% between Apr and Sep to Rs 2.95 trillion")
Low rate regime: Why corporation tax is a hit but not personal tax?
While the new corporation tax regime has drawn a good response, the personal income tax regime seems to have attracted only a lukewarm response
 "Low rate regime: Why corporation tax is a hit but not personal tax?")
Corporate tax collection soars 34% between April and July: I-T dept
Tax dept attributed the robust growth to simplified tax regime, low rates and no exemptions
LIVE: This Budget brings more infra, more growth and more jobs, says PM
Budget 2022 LIVE updates: Finance Minister Nirmala Sitharaman presented the annual Union Budget 2022-23 in Parliament today. Follow Business Standard for Budget highlights
 "LIVE: This Budget brings more infra, more growth and more jobs, says PM")
Boom time for companies: What record profits may mean for govt's revenue
If much higher profits this year do not propel corporation tax revenue to a level higher than the FY19 peak, something must be wrong with corporation tax, writes T N Ninan
Budget basics: How govt can break out of its straitjacket and raise revenue
There are two ways: deliver a rapidly growing economic pie or re-assess tax policy - reform of GST, closing corporate tax loopholes, suggests T N Ninan
