Tax revenue trend from 2014-15 to 2017-18
In 2016-17 and 2017-18, indivudal income tax (majorly salaried taxpayer) receipt are up 25% year on year while corporate tax receipts are up just 9% YoY.
What it shows that Individual taxpayers of India are paying more tax every year at a pace much faster than that of companies are paying less.
Finance minister Jaitley has time and again supported this trend. But companies profit before tax runs into amounts in multiples of the taxable income earned by individuals (including those who are currently evading tax). So corporate tax should grow at a pace equal to, if not more, than the pace seen in rise of income tax collection from individuals.
In 2016-17 and 2017-18, indivudal income tax (majorly salaried taxpayer) receipt are up 25% year on year while corporate tax receipts are up just 9% YoY.
What it shows that Individual taxpayers of India are paying more tax every year at a pace much faster than that of companies are paying less.
Finance minister Jaitley has time and again supported this trend. But companies profit before tax runs into amounts in multiples of the taxable income earned by individuals (including those who are currently evading tax). So corporate tax should grow at a pace equal to, if not more, than the pace seen in rise of income tax collection from individuals.
| YoY change (%) | |||||||
| Actual | Actual | Budget Revised | Budget Estimates | 2014-15 to | 2015-16 to | 2016-17 to | |
| 2014-2015 | 2015-16 | 2016-2017 | 2017-18 | 2015-16 | 2016-17 | 2017-18 | |
| A. TAX REVENUE | |||||||
| (a) Taxes on Income and Expenditure | 687260 | 733515 | 839699 | 972232 | 7 | 14 | 16 |
| Corporation Tax | 428925 | 453228 | 493924 | 538744 | 6 | 9 | 9 |
| Taxes on Income Other Than Corporation Tax | 258326 | 280322 | 345776 | 433487 | 9 | 23 | 25 |
| Hotel Receipts Tax | 1 | 1 | ... | ||||
| Interest Tax | 6 | 5 | ... | ||||
| Fringe Benefit Tax | -8 | -46 | ... | ||||
| Other Taxes on Income and Expenditure | 11 | 4 | ... | ||||
| (b) Taxes on Property and Capital Transactions | 8484 | 8430 | 7398 | 7768 | -1 | -12 | 5 |
| Estate Duty | 0 | 1 | ... | ||||
| Taxes on Wealth | 1086 | 1079 | ... | -1 | |||
| Gift Tax | 0 | 0 | ... | ||||
| Securities Transaction Tax | 7398 | 7350 | 7398 | 7768 | -1 | 1 | 5 |
| (c) Taxes on Commodities and Services | 546188 | 710068 | 852118 | 927150 | 30 | 20 | 9 |
| Customs | 188016 | 210338 | 217000 | 245000 | 12 | 3 | 13 |
| Union Excise Duties | 188128 | 287149 | 386415 | 405920 | 53 | 35 | 5 |
| Service Tax | 167969 | 211414 | 247500 | 275000 | 26 | 17 | 11 |
| Other Taxes and Duties on Commodities and Services | 2074 | 1167 | 1203 | 1230 | -44 | 3 | 2 |
| (d) Taxes of Union Territories without Legislature | 3204 | 3879 | 4277 | 4680 | 21 | 10 | 9 |
| GROSS TAX REVENUE | 1245136 | 1455891 | 1703492 | 1911830 | 17 | 17 | 12 |
| State's share excluded from the Consolidated Fund | 337808 | 506192 | 608000 | 674565 | 50 | 20 | 11 |
| Tax Revenue of the Central Government | 907327 | 949698 | 1095493 | 1237264 | 5 | 15 | 13 |
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