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What is Tax Revenue

Tax Revenue

About Tax Revenue

What is Tax Revenue

Taxation is the primary source of income for the government. The most important revenue receipts for the government, taxes are involuntary fees levied on individuals and corporations to finance government activities. Revenue receipts can be of two types — non-tax revenue and tax revenue. Tax revenue is the income gained by the government through taxation.
 
Tax revenue forms a part of the Receipt Budget, which in turn is part of the Annual Financial Statement of the Union Budget.
 
Tax revenue is the result of the application of a tax rate to a tax base. Total tax revenue as a percentage of GDP
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Latest Updates on Tax Revenue

Bihar govt considering taking over Bettiah Raj land worth Rs 7,960 cr

The move is being made to ensure 'effective protection and management' of the nearly 15,358 acres of land, mostly in Bihar's East and West Champaran districts and in Uttar Pradesh

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Updated On : 02 Nov 2024 | 7:55 PM IST

Budget 2024: State governments have stepped up capital expenditure

Devolution of central taxes among states has remained a contentious issue over cess

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Updated On : 24 Jul 2024 | 12:17 AM IST

Statsguru: Six charts explain govt's tax collections are beating estimates

The Budget on Tuesday is likely to increase the tax revenue projections by Rs 30,000-40,000 crore compared to the Interim Budget in February

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Updated On : 21 Jul 2024 | 11:02 PM IST

Trade bodies in Rajasthan seek budgetary, tax reforms to boost development

"This force should also be responsible for budgetary reforms of the state government," said Kailash Sharma, senior vice-president of ARTIA

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Updated On : 17 Jun 2024 | 6:12 PM IST

Business Standard Manthan: Centre-state relations emerge as talking point

Ahluwalia suggested that a portion of central taxes be set aside for this transfer and the remaining be shared between the Centre and the states

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Updated On : 29 Mar 2024 | 12:11 AM IST

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

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Updated On : 19 Mar 2024 | 11:19 PM IST

Direct tax collection grows 20% to Rs 18.90 trillion till March 17

The net direct tax collection of Rs 18,90,259 crore(as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT)

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Updated On : 19 Mar 2024 | 8:36 PM IST

Govt pegs non-tax revenue from communications at Rs 1.20 trillion for FY25

The government has pegged non-tax revenue collection estimates from the communications sector at about Rs 1.20 lakh crore for 2024-25 and expects to exceed the budget estimates for the current fiscal.

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Updated On : 01 Feb 2024 | 4:37 PM IST

Budget 2024 expectations: What stance will interim Budget 2024 adopt?

Nirmala Sitharaman's recent statement that the February 1 Budget would just be a vote on account could mean that she will uphold the convention surrounding an interim Budget

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Updated On : 17 Jan 2024 | 9:59 AM IST

Centre may peg FY25 fiscal deficit at 5.3% in interim budget: Goldman Sachs

Interim Budget 2024: The Centre will keep a focus on increasing the capital expenditure but it will most likely be at a slower pace than earlier, says Goldman Sachs

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Updated On : 12 Jan 2024 | 3:16 PM IST

Uttar Pradesh tax mop-up may zoom 40% to Rs 2.62 trillion in FY24

Together, the state's composite tax and financial resources add up to Rs 5.46 trillion in FY24, up more than 17 per cent compared to the corresponding figure of Rs 4.65 trillion in FY23

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Updated On : 02 Jan 2024 | 6:35 PM IST

Centre authorises release of tax devolution of Rs 72,961 cr to states

Currently, 41 per cent of taxes collected by the Centre is devolved in 14 instalments among states during a fiscal year

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Updated On : 07 Nov 2023 | 7:12 PM IST

India's gross tax receipts remain robust; fiscal deficit at Rs 7.02 trn

Upward trend mainly due to spike in corporation tax mop-up

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Updated On : 01 Nov 2023 | 12:11 AM IST

Taxpayers and the Covid impact

Govt data on direct taxes points to ways of expanding the tax net

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Updated On : 24 Oct 2023 | 10:03 PM IST
Updated On : 22 Oct 2023 | 11:17 PM IST

Will exceed Budget target for direct tax: CBDT chairman Nitin Gupta

Rs 600 cr TDS comes from online gaming firms, Rs 105 cr from crypto assets

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Updated On : 11 Oct 2023 | 8:49 AM IST

Preventing the mistakes of 2019

Interim Budget projections for 2024-25 should conform to standard practices of transparency, pragmatism and caution

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Updated On : 26 Sep 2023 | 10:26 PM IST

Fiscal constraints

Govt must generate more tax revenue

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Updated On : 27 Aug 2023 | 10:10 PM IST

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

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Updated On : 14 Jul 2023 | 5:27 PM IST

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

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Updated On : 03 Jul 2023 | 3:44 PM IST