Income from taxation is estimated at Rs. Expected to be less than 2.50 trillion

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New delhi date. January 20, 2020, Monday

At the end of the current fiscal year, government revenues are expected to be less than its estimated Rs 1.8 trillion or marginally lower at 8.5 per cent of GDP, said former finance secretary Subhash Chandra Garg and called for the abolition of dividend distribution tax (DDT). Is.

From the point of view of the tax revenue, 3-5 years is seen as dormant. Income tax is projected to be less than Rs 1.8 trillion in the current financial year. He has also introduced a proposal to improve personal income tax and drop the DDT.

In the current financial year, the government has projected an income of Rs 1.7 trillion. The Center's net tax revenue budget, estimated at Rs 1.7 trillion, is set aside by the states.

The current year's figure is Rs 1.8 trillion higher, compared to a net tax revenue of Rs 1.8 trillion in FY 6-8. In the current financial year, the growth rate of recovery of excise, corporate tax and customs tax is expected to be negative.

There is a huge deficit in gross income through central taxes, which cannot be met by deducting non-tax revenue or expenses.


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