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August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.
August 30, 2026
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Digital arrest fraud: judicial responses seek a distinct offence while preserving due process and proportionality in economic-crime enforcement.
Suo motu consideration of digital-arrest fraud reflects a proactive judicial response to video-call scams involving impersonation of police, judicial officials or bureaucrats. The Union and the States have been directed to assess the problem, with a call for a distinct offence carrying proportionate penalties. Economic-crime enforcement remains subject to safeguards requiring written grounds of arrest and preventing pre-trial detention from becoming punishment. Due process, proportionality and the presumption of innocence remain central constraints.
August 29, 2026
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Natural justice in licensing enforcement requires meaningful hearing and reasoned orders before cancellation or suspension of regulated operations.
Natural justice in regulatory licensing enforcement requires a meaningful hearing, proper legal analysis, and a reasoned decision before licence cancellation or suspension. Maharashtra FDA withdrew cancellation of drug-sale licences after criticism of the procedure adopted. Food-safety enforcement against restaurants was also reconsidered where the premises were substantially compliant, despite licences being issued to one entity and operations being conducted by another. A fresh notice, hearing on the contractual arrangement, and reasoned order were required before further licensing action.
August 29, 2026
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Food-safety licensing compliance supports reopening while contractual operation requires notice, hearing, and a reasoned regulatory decision.
Food-safety licence suspension of five eateries was reconsidered after a fresh inspection recorded 88 per cent compliance. The suspension had continued because a third-party operator ran the eateries while licences remained in the association's name, despite no identified legal prohibition. The Food and Drug Administration proposed a fresh notice, hearing, and reasoned order on the contractual arrangement, while current compliance permitted services to resume.
August 29, 2026
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Market access and regulatory cooperation advance agricultural, pharmaceutical, digital, and trade integration priorities across the bilateral economic partnership.
India-Argentina cooperation focused on expanding bilateral trade, reducing non-tariff barriers, facilitating investment, and strengthening market access. Sanitary and phytosanitary discussions progressed for Indian agricultural products, while pharmaceutical engagement covered regulatory upgrading and reduced entry barriers. Mining and lithium-sector engagement, digital services, space technology, telecommunications, artificial intelligence and digital infrastructure were identified as priority areas. The India-MERCOSUR Preferential Trade Agreement, Terms of Reference and digital certificates of origin were considered mechanisms for trade facilitation and economic integration. Business discussions addressed commercial partnerships across agriculture, minerals, energy, pharmaceuticals, healthcare, banking and telecommunications.
August 29, 2026
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Shared digital infrastructure for professional services aims to expand technology access, interoperability, capability development and secure adoption across firms.
MCA and IICA are developing a government-backed digital public good ecosystem for domestic professional services, particularly small and medium practices. The framework proposes curated technology access, learning and capability development, and knowledge and practice infrastructure. It is intended to improve access to technology and professional knowledge while complementing existing institutional and market-based systems. Consultations address interoperability, common standards, cybersecurity, affordable access, implementation, change management, openness, competition and technology adoption suited to differing levels of digital readiness.
August 29, 2026
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Methamphetamine trafficking enforcement targets concealed cross-border transport, with seizures, vehicle confiscation, arrests and stringent penalties under narcotics law.
Methamphetamine trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved intelligence-led seizures of tablets in Assam and Mizoram, along with the vehicles allegedly used for transportation and arrests of two vehicle occupants. Field testing indicated the presence of amphetamine. The tablets were concealed in fabricated cavities within a truck and car, with preliminary investigation indicating alleged cross-border smuggling into Mizoram. Methamphetamine is a notified psychotropic substance, and illicit manufacture, possession, transportation and trafficking attract stringent penal consequences.
August 29, 2026
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IPO disclosure integrity triggers one-year market access bar for issuer and promoter-directors over fabricated quotation and misleading financial disclosures.
SEBI restrained Trafiksol ITS Technologies Ltd. and its promoter-directors from accessing or dealing in the securities market for one year and imposed monetary penalties over irregularities in its SME IPO. The action concerned overstated financial disclosures, inadequate disclosure of issue expenditure and a potential merchant-banker conflict, and proposed use of IPO proceeds based on a fabricated software-vendor quotation. The listing was deferred and IPO proceeds were placed in an interest-bearing escrow account. One promoter was directly involved in procuring the quotation, while the other failed to exercise due diligence.
August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
August 28, 2026
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.

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Income Tax Department Time Series Data Financial Year 2000-01 to 2014-15

May 2, 2016

Contents
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Income Tax Department

Time Series Data

Financial Year 2000-01 to 2014-15

Contents

Overview

1.1       Direct Tax Collection

1.2       State and U.T. Wise Break-Up of Collection

1.3       Contribution of Direct Taxes to Total Tax Revenue

1.4       Direct-Tax GDP Ratio

1.5       Pre-Assessment and Post-Assessment Collections

1.6       Cost of Collection

1.7       Number of Effective Assessees

1.8       Workload and Disposal of Income tax Cases

Overview

Actual figures based on internal reporting/ MIS of the Income Tax Department or figures reported by Controller General of Accounts or data published by other Government agencies, as the case may be.

1.1 Direct Tax Collection

(Rs. in crore)

Financial Year

Corporate Tax

Personal Income Tax@

Other Direct Tax

Total

2000-01

35696

31764

845

68305

2001-02

36609

32004

585

69198

2002-03

46172

36866

50

83088

2003-04

63562

41386

140

105088

2004-05

82680

49268

823

132771

2005-06

101277

63689

250

165216

2006-07

144318

85623

240

230181

2007-08

193561

120429

340

314330

2008-09

213395

120034

389

333818

2009-10

244725

132833

505

378063

2010-11

298688

146258

1049

445995

2011-12

322816

170181

990

493987

2012-13

356326

201840

823

558989

2013-14

394678

242888

1030

638596

2014-15

428925

265772

1095

695792

2015-16*

454419

286801

1075

742295

Source: Union Finance Accounts of respective years and reports of C&AG.

* Provisional/ Unaudited

@ Figures under Personal Income Tax include collections of Securities Transaction Tax.

1.2          State and U.T. Wise Break-Up of Collection

(Rs. in crore)

Financial Year

2008-09

 

2009-10

 

2010-11

 

2011-12

 

2012-13

 

2013-14

 

2014-15

 

States/UT

Andhra Pradesh

17494.9

18716.7

23133.4

25180.0

29947.7

32296.1

29769.01

Arunachal Pradesh

28.0

57.2

70.1

87.6

84.0

111.8

17.19

Assam

1447.1

2565.6

2937.8

3742.8

4564.0

4486.8

3658.69

Bihar

1719.3

1997.8

2581.1

3058.4

3806.7

4491.6

4425.75

Jharkhand

1060.0

1388.6

1691.4

1977.7

2497.9

3482.7

1344.70

Goa

3029.8

3624.1

4886.3

4583.9

2600.4

2100.3

2820.02

Gujarat

12577.3

15001.2

17017.0

20961.7

25196.1

28783.9

35912.46

Haryana

5360.0

6365.6

9212.6

11168.0

13788.0

16778.6

12638.80

Himachal Pradesh

796.7

795.3

894.1

942.5

1267.6

1622.4

2042.42

Jammu Kashmir

574.0

671.4

711.6

869.9

1160.7

1459.1

1284.22

Karnataka

27311.2

29220.9

35824.8

40956.0

49047.8

59769.8

60595.22

Kerala

3719.8

4618.7

5493.2

6810.0

8524.4

10155.6

11909.69

Madhya Pradesh

4589.9

5380.2

6756.4

8729.9

11226.3

13486.6

14262.57

Chhatisgarh

1286.7

1608.4

1882.3

1987.1

2281.9

3067.9

1286.86

Maharashtra

131168.5

145507.6

174968.6

177363.3

202128.9

229494.9

277720.11

Manipur

21.2

27.7

44.1

38.4

55.4

79.2

53.31

Meghalaya

219.4

281.3

367.0

406.3

474.0

577.3

292.75

Mizoram

6.5

9.0

6.9

9.2

12.6

17.8

39.79

Nagaland

9.9

15.8

19.3

20.7

30.4

35.1

30.36

Delhi

54705.0

59621.7

64208.1

68410.5

79137.1

88140.4

91247.90

Odisha

4639.9

5126.9

6172.7

7014.4

8630.5

9394.2

9871.25

Punjab

3350.1

3760.0

5019.2

6181.6

6977.0

7783.6

7072.98

Rajasthan

4666.2

5516.2

5813.3

7689.2

9951.9

11246.5

13146.11

Sikkim

29.2

50.7

48.2

64.4

199.5

205.4

323.88

Tamil Nadu

20651.1

24265.1

28409.5

28327.5

33051.3

42681.3

44732.62

Telangana

 

 

439.46

Tripura

58.5

87.2

100.5

142.2

166.3

218.7

138.91

Uttar Pradesh

14453.0

15905.0

19850.5

20130.3

25745.6

25886.5

27159.83

Uttrakhand

731.1

1086.6

1080.0

1255.7

1591.9

1941.9

1750.63

West Bengal

13557.5

15862.3

19458.0

20592.0

24462.9

26900.7

27793.48

Total

329261.6

369134.8

438657.8

468701.1

548608.8

626696.6

683780.97

 

 

 

 

 

 

 

 

Union Territories

 

 

 

 

 

 

 

Andaman Nicobar

24.9

32.3

36.8

44.2

50.1

52.8

93.37

Chandigarh

812.1

948.4

1201.2

1373.1

1776.2

1874.8

1922.65

Daman and Diu

97.8

92.3

97.2

120.0

146.7

158.2

188.63

Dadar N. Haveli

71.6

79.5

84.7

91.6

110.5

245.6

290.20

Puducherry

158.3

215.8

222.1

260.4

356.8

425.0

385.89

Lakshadweep

0.9

0.9

1.8

5.8

6.9

10.3

2.84

Total

1165.5

1369.2

1643.8

1895.1

2447.3

2766.6

2883.58

C.T.D.S. (SYS -II)

3390.9

7350.2

6632.0

4832.0

7929.3

9125.7

9124.29

Grand Total

33818.0

377854.1

446933.9

475428.2

558985.4

638588.9

695788.85

Source: Pr. CCA CBDT.

1.3 Contribution of Direct Taxes to Total Tax Revenue

(Rs. in crore)

Financial Year

Direct Taxes

Indirect Taxes

Total Taxes

Direct Tax As % Of Total Taxes

2000-01

68305

119814

188119

36.31%

2001-02

69198

117318

186516

37.10%

2002-03

83088

132608

215696

38.52%

2003-04

105088

148608

253696

41.42%

2004-05

132771

170936

303707

43.72%

2005-06

165216

199348

364564

45.32%

2006-07

230181

241538

471719

48.80%

2007-08

314330

279031

593361

52.97%

2008-09

333818

269433

603251

55.34%

2009-10

378063

243939

622002

60.78%

2010-11

445995

343716

789711

56.48%

2011-12

493987

390953

884940

55.82%

2012-13

558989

472915

1031904

54.17%

2013-14

638596

495347

1133943

56.32%

2014-15

695792

543215

1239007

56.16%

2015-16*

742295

711885

1454180

51.05%

* Provisional

1.4 Direct-Tax GDP Ratio

(Rs. in crore)

Financial year

Net Collection of Direct Taxes

GDP Current Market Price

Direct Tax GDP Ratio

GDP Growth Rate

Tax Growth Rate

Buoyancy Factor

2000-01

68305

2102376

3.25%

7.7%

17.85%

2.32

2001-02

69198

2281058

3.03%

8.5%

1.31%

0.15

2002-03

83088

2458084

3.38%

7.76%

20.07%

2.59

2003-04

105088

2754621

3.81%

12.06%

26.48%

2.19

2004-05

132771

3242209

4.1%

17.7%

26.34%

1.49

2005-06

165216

3693369

4.47%

13.92%

24.44%

1.76

2006-07

230181

4294706

5.36%

16.28%

39.32%

2.42

2007-08

314330

4987090

6.3%

16.12%

35.56%

2.27

2008-09

333818

5630063

5.93%

12.89%

6.20%

0.48

2009-10

378063

6457352

5.85%

14.69%

13.25%

0.90

2010-11

445995

7674148

5.81%

18.84%

17.97%

0.95

2011-12

493987

9009722

5.48%

17.4%

10.76%

0.62

2012-13

558989

10113281

5.53%

12.25%

13.16%

1.07

2013-14

638596

11355073

5.62%

12.28%

14.24%

1.16

2014-15

695792

12541208

5.55%

10.45%

8.96%

0.86

2015-16*

742295

@ 13567192

5.47%

8.18%

6.68%

0.82

* Provisional

@ Advance Estimates as per Press Release dated 08.02.2016 of MOSPI.

1.5 Pre-Assessment and Post-Assessment Collections

(Rs. in crore)

Financial Year

TDS

Adv. Tax

Self-Assessment Tax

Regular Assessment Tax

Other Receipts

Total Gross Direct Tax Receipts#

2000-01

28213

32614

5841

8121

5420

80209

2001-02

32672

34094

5479

9492

4094

85831

2002-03

36568

49158

6414

10745

2184

105069

2003-04

42955

58713

9852

16015

3150

130685

2004-05

43972

90034

10043

6006

10406

160461

2005-06

58606

87084

11618

22112

7875

187294

2006-07

70689

121227

13825

30396

20495

256632

2007-08

105047

158673

21375

25970

43792

354858

2008-09

128230

143332

30779

21337

49237

372915

2009-10

145736

173417

32507

33274

50229

435163

2010-11

168669

212538

36887

51838

43966

513898

2011-12

198679

251526

27648

51512

50134

579499

2012-13

210654

275794

39470

62418

48596

636932

2013-14

248547

292522

44123

72528

63884

721604

2014-15

259106

326525

52050

80189

81589

799459

2015-16*

315131

356601

66417

68737

57834

864720

Source: Reports of C&AG of different years.

* Provisional (Source: OLTAS)

# Gross Tax Receipts without reducing refunds.

1.6 Cost of Collection

(Rs. in crore)

Financial Year

Total Collections

Total Expenditure

Cost of Collection

2000-01

68305

929

1.36%

2001-02

69198

933

1.35%

2002-03

83088

984

1.18%

2003-04

105088

1050

1.00%

2004-05

132771

1138

0.86%

2005-06

165216

1194

0.72%

2006-07

230181

1349

0.59%

2007-08

314330

1687

0.54%

2008-09

333818

2248

0.67%

2009-10

378063

2726

0.72%

2010-11

445995

2698

0.60%

2011-12

493987

2976

0.60%

2012-13

558989

3283

0.59%

2013-14

638596

3641

0.57%

2014-15

695792

4101

0.59%

2015-16*

742295

4593

0.62%

* Provisional

1.7 Number of Effective Assessees

PAN Category

AY 2011-12

AY 2012-13

AY 2013-14

AY 2014-15**

Association of Person

110230

124010

138098

142192

Body of Individuals

5392

5688

6052

6221

Company

596377

654766

702621

714419

Firm

950147

995648

1038309

1031457

Government

62

94

159

294

Hindu Undivided Family

892205

931387

956233

907047

Artificial Juridical Person

9896

9897

10039

9649

Local Authority

5056

5459

5935

6807

Individual

40883558

44346852

49033288

48663680

Trust

184563

193781

202590

192056

Total*

43637486

47267582

52093324

***51673822

 

* The data is based on the number of income-tax returns entered in the System plus number of cases where tax has been deducted at source from the income of the taxpayer but the taxpayers has not filed the return of income.

** Provisional

*** Returns for AY 2014-15 can be filed till 31.03.2016.

1.8 Workload and Disposal of Income tax Cases

Financial Year

Number Of Assessments

Workload

Disposal

2000-01

32728373

19381487

2001-02

35818050

20665323

2002-03

39176300

35151111

2003-04

27683421

21886738

2004-05

30747645

23448806

2005-06

33934874

24058871

2006-07

38128779

26139210

2007-08

40192130

21848016

2008-09

48280589

24339003

2009-10

52158000

28246000

2010-11

50654983

29625794

2011-12

39667836

28318427

2012-13

24886015

16530537

2013-14

30456681

19924496

2014-15

31786402

21677399

Topics

Acts Income Tax