SIGN IN SUBSCRIBE

News Update

Air India, Nippon Airways join hands for travel between India and Japan10 killed as two Malaysian Military copters crashGST - s.107(11) - There is no fetter on the powers of the appellate authority to modify the order passed u/s 130(2) by the adjudicating authority: HCSC grills Baba Ramdev & Balkrishna in misleading ad caseCBDT amends jurisdiction of Pr CCITs in many citiesGST - Statutory mandate of sub-section (4) of Section 75 is that a personal hearing should be provided either, if requested for, or if an order adverse to the taxpayer is proposed to be issued: HCCCI invites proposal for launching Market Study on AI and CompetitionGST - Documents with regard to service of notice could not be located; that impugned orders came be to be passed without an opportunity being granted to Petitioner to submit documents and being heard - Matter remanded: HCIndia initiates anti-dumping duty probe against import of Telescopic Channel drawer slider from ChinaAFMS, Delhi IIT ink MoU for collaborative research & trainingCX - The activity of waste water treatment is part of manufacturing activity and any activity which is directly or indirectly in relation to manufacture would be eligible for credit: CESTATDoP&T notifies fixation of Himachal IPS cadre strength and amendment in pay rulesIndia, Cambodia ink MoU for HRD in Civil ServiceBengaluru Airport Customs seizes 10 yellow anacondas from check-in baggageST - Appellant has collected some service tax from service recipient, which has been deposited with Department, same shall not be refunded to appellant: CESTATDelhi daily air traffic goes beyond 4.7 lakh paxGovt organizing National Colloquium on Grassroots Governance2 Telangana students killed in road accident in USI-T- Addl. Commr. or above ranking officer to probe how I-T portal reflected demand being raised against assessee, despite Revenue not having issued any notice or passed any order against assessee: HCAnother tremor of 6.3 magnitude visits Taiwan; shakes tall buildingsI-T- Donations given out of accumulated funds u/s 11(2) are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of assessee : ITATYou are arrogant Mr Musk, says Australian PM over Sydney stabbing video banUnited Health reports theft of huge Americans’ dataI-T - Travelling conveyance expenses should be disallowed to extent of bills which were not verifiable and have no nexus with business of assessee: ITATEarth Day: Biden announces USD 7 bn grant for rooftop solar panelsOECD to release annual report on Tax Inspectors without Borders on April 29EU introduces easy Schengen Visa rules for IndiansI-T- Leasehold rights in land are not within purview of section 50C of Act : ITAT
 
Centre collects barely 2 lakh crore tax revenue upto July

 

By TIOL News Service

NEW DELHI, SEPT 01, 2020: THE Monthly Account of the Union Government of India upto the month of July, 2020 has been consolidated and reports published. The highlights are given below:-

The Government of India has received Rs. 2,32,860 crore (10.4% of corresponding  BE 2020-21 of Total Receipts) upto July, 2020 comprising Rs. 2,02,788 crore Tax Revenue (Net to Centre),  Rs. 24,614 crore of  Non Tax Revenue and Rs 5,458 crore of Non Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs. 5,455 crore) and Disinvestment proceeds (Rs. 3 crore).

Rs. 1,76,009 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs. 23,903 crore lower than the previous year.

Total Expenditure incurred by Government of India is Rs. 10,54,209 crore (34.65% of corresponding BE 2020-21), out of which Rs. 9,42,360 crore  is on Revenue Account and Rs. 1,11,849 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs.1,98,584 crore is on account of Interest Payments and Rs.1,04,638 crore is on account of Major Subsidies. 


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360





Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST