Page 2 - Latest Updates on Tax Revenue
IRS says it collected $38 mn from over 175 high-income tax delinquents
The agency was in line for a $80 bn infusion of funds under the law but that money is vulnerable to potential cutbacks
 "IRS says it collected $38 mn from over 175 high-income tax delinquents")
Settl FY23 revenue jumps two-fold to Rs 17cr, to add 3,000 beds by March
The company is in an advanced stage of discussion with a few property owners in three cities where it has a presence as well as three new markets
 "Settl FY23 revenue jumps two-fold to Rs 17cr, to add 3,000 beds by March")
Govt receives Rs 20,97,368 crore tax revenue in FY23, reveals data
Out of the total revenue, Rs 20,97,368 crore is tax revenue (net to Centre), Rs 2,86,151 crore is non-tax revenue, and Rs 72,187 crore is Non-Debt Capital Receipt
 "Govt receives Rs 20,97,368 crore tax revenue in FY23, reveals data")
NuRe, Railtel tie up for passenger services app on revenue share basis
He said that PIPOnet will allow the advertisers to connect deeply with the people of Bharat across Tier 1,2,3 and 4 towns of India
 "NuRe, Railtel tie up for passenger services app on revenue share basis")
Amul revenue grew by 18.5% in FY23 to Rs 55,055 cr on better demand
In a statement, the Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) said it has registered a provisional turnover of Rs 55,055 crore for the financial year 2022-23
 "Amul revenue grew by 18.5% in FY23 to Rs 55,055 cr on better demand")
Private hospitals to clock 10-11% revenue growth in FY23, FY24: Report
Sethi further noted that occupancy dipped only once during this period to 53 per cent due to lockdown enforced during the first phase of the pandemic
 "Private hospitals to clock 10-11% revenue growth in FY23, FY24: Report")
Should Indian states also levy an income tax?
An RBI report recently highlighted the grim fiscal condition of ten states. And of them, five seem to be in dire condition. What ails these states? What can be done to revive their economy?
 "Should Indian states also levy an income tax?")
Centre's share of cess and surcharges nearly double in three years
Experts say finance commission needs to provide clarity on whether cess should be shared with states
 "Centre's share of cess and surcharges nearly double in three years")
File revised income-tax return to correct errors in original ITR by Dec 31
Any refund you are eligible for won't be processed unless you correct the mistakes in your return
 "File revised income-tax return to correct errors in original ITR by Dec 31")
Direct tax collections for FY23 up 20% at Rs 11.35 trillion till Dec 17
Direct tax collections stood at Rs 11,35,754 crore, as on December 17, 2022, up by 19.81 per cent against Rs 9,47,959 crore recorded in the corresponding period of last year, officials said
 "Direct tax collections for FY23 up 20% at Rs 11.35 trillion till Dec 17")
New tax intelligence unit to raise revenue by boosting compliance: Punj FM
A new tax intelligence unit has been set up in Punjab to boost tax collections by improving compliance, Punjab Finance Minister Harpal Cheema said on Tuesday
Centre's fiscal deficit in H1 touches 37.3% of full-year target
The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23
 "Centre's fiscal deficit in H1 touches 37.3% of full-year target")
On the cards: Expansionary Budget with optimistic tax revenue rise
Finance Minister Nirmala Sitharaman is expected to present the next Budget on February 1
 "On the cards: Expansionary Budget with optimistic tax revenue rise")
Israel decides to withhold $176 mn from Palestinian tax revenues
Israel has decided to withhold 600 million shekels in tax revenues it has collected for the Palestinian Authority to offset the latter's compensation for "attackers" against the Jewish state.
 "Israel decides to withhold $176 mn from Palestinian tax revenues")
Centre's fiscal deficit hits 12.3% of full-year target in April-May period
Non-tax revenue came in at Rs 49,251 crore, or 18.3 per cent of the full year target of Rs 2.69 trillion, compared with 48 per cent for the same period last year
 "Centre's fiscal deficit hits 12.3% of full-year target in April-May period")
Tax revenue boost or expenditure cuts can help meet fiscal deficit target
The impact of Saturday's excise duty cuts will be Rs 1 trillion for a year, Finance Minister Nirmala Sitharaman had said
 "Tax revenue boost or expenditure cuts can help meet fiscal deficit target")
BS Number Wise: Indian states are living dangerously on subsidies
Their tax revenues can't keep up with their largesse: it's a policy that risks putting them in economic peril
 "BS Number Wise: Indian states are living dangerously on subsidies")
'India on track to becoming $5-trn economy': FinMin on tax revenue mop-up
Prime Minister Narendra Modi in 2019 envisioned making India a USD 5 trillion economy and a global economic powerhouse. The Indian GDP is estimated to be around USD 3 trillion in 2021-22
 "'India on track to becoming $5-trn economy': FinMin on tax revenue mop-up")
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
Pandora papers: A rich man's game, and its most willing participants
As an international consortium of journalists unearths the 'Pandora' list of stashes in tax havens, accountability becomes the call of the day. But what we get instead is hypocrisy, rues T N Ninan
