Fact: Authorities in Malaga province have collected record taxes for three years in a row, with tax revenues increasing by 65.8% in the first quarter of 2024 compared to the same period last year.
The Tennessee House and Senate have reached a compromise to pass a business tax cut and refund, allowing businesses to request refunds up to three years of the Franchise and Excise Tax.
House and Senate lawmakers are still in disagreement over Tennessee Gov. Bill Lee’s .9 billion business tax cut proposal. The sticking points include how many years of refunds to give and a requirement in the House version for the revenue department to disclose the names and amounts of refunds companies receive. Both versions would eliminate the property portion of the state’s franchise tax, resulting in 0 million in annual lost revenue for the state. The Senate passed a version similar to Lee’s proposal, offering three years of refunds without requiring disclosure of recipients. The House version offers 1-2 years of refunds and includes the disclosure requirement. The conference committee is working to resolve the differences between the two versions.
India’s net direct tax collections surged by 17.7 per cent year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding the revised estimates by Rs 13,000 crore.
India’s net direct tax collections for the fiscal year ended March 2024 surged by 17.7% to Rs 19.58 crore, exceeding both Budget and revised estimates.
The Central government has collected ₹19.58 trillion in direct tax revenue in FY24 after adjusting for refunds, showing a 17.7% growth annually.
The gross corporate tax collection (provisional) in FY 2023-24 was up 13.06 per cent to Rs 11.32 lakh crore.
The country’s net direct tax collections surged by 17.7% year-on-year to ₹19.58 crore in the fiscal year ended March 2024, exceeding both budget and revised estimates.
Fact: India’s net direct tax collections surged by 17.7% year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding Budget Estimates by 7.40%.
The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.