India’s tax burden shifted from boardrooms to petrol pumps during Covid-19
3 years, 6 months ago

India’s tax burden shifted from boardrooms to petrol pumps during Covid-19

Hindustan Times  

The provisional Gross Tax Revenue collection of the Union government was ₹20.24 lakh crore in 2020-21. On a year-on-year basis, corporation tax collections saw the biggest decline, whereas Union excise duties had the biggest jump. Taxes on profits had the smallest share in overall tax basket since 2009-10 The share of corporation tax collections – taxes on profits of companies – in GTR in 2020-21 is the lowest since 2009-10. The fall in share of corporation tax collections in is likely a result of a sharp cut in corporation tax rates which were announced in September 2019. However, the fact that income tax collections fell by a much smaller amount than corporation tax collections during 2019-20 and 2020-21 shows that owners rather than their white-collar workers had a better deal when it came to tax rates.

India Tax Taxes Union Share Corporation Paid Petrol Tax Rates Gtr Cmie Excise Collections Corporation Tax Collections  burden  share  indias  covid19  202021  excise  collections  201920  boardrooms  union  shifted  paid  tax  petrol  corporation  pumps  taxes

History of this topic

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
5 days, 12 hours ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth
6 days, 2 hours ago

Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth

India TV News  

The government has reported a significant rise in net direct tax collections, which have surged by 16.45 per cent to exceed Rs 15.82 lakh crore in the ongoing fiscal year. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up …

How big corporates are choking middle class, hurting India growth story
1 week ago

How big corporates are choking middle class, hurting India growth story

India Today  

Industrialists and corporates played a big role in building the India Story and shaping its emerging economy. "India grew at 5.4% in the July-September quarter and the consumption component has been seeing lower growth in the last four-five quarters," political analyst and commentator Amitabh Tiwari tells India Today Digital. Salary hike: average wages across six sectors Sector 2019 2020 2021 …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
3 weeks, 6 days ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

Will exceed direct tax collection target for FY25: CBDT chief
1 month ago

Will exceed direct tax collection target for FY25: CBDT chief

Live Mint  

New Delhi: The government expects to exceed its ₹22 trillion direct tax collection target for this financial year, going by the current trend in tax receipts, Central Board of Direct Taxes chairperson Ravi Agarwal said on Monday. Nudging taxpayers Agarwal also said the government is nudging tax payers who have not disclosed their foreign assets, to update their tax returns. …

India Expects to Surpass Rs 22 Lakh Cr Direct Tax Target
1 month ago

India Expects to Surpass Rs 22 Lakh Cr Direct Tax Target

Deccan Chronicle  

New Delhi: The government on Monday said that it would exceed the Rs 22 lakh crore direct tax collection target set for the current fiscal year. As per the latest data released by the tax department between April 1 and November 10, net direct tax collection has grown 15.41 per cent to Rs 12.11 lakh crore, including net corporate tax …

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
1 month, 1 week ago

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate

Live Mint  

Data from the Income Tax Department reveals a shift in India’s tax landscape over the past decade, with the share of tax collected from individuals earning less than ₹10 lakh dropping from over 10% to 6.22%. Tax collection from this group has tripled, rising from ₹2.52 lakh crore in 2014 to ₹9.62 lakh crore in 2024, data showed. “Tax liability …

India is investing more in mutual fund SIPs, and paying more tax too
1 month, 1 week ago

India is investing more in mutual fund SIPs, and paying more tax too

Firstpost  

With individual wealth creation through investments aligning with strengthened government revenues, India appears resilient in the face of global uncertainties Investments in mutual funds,a s well as tax collection in India have gone up. New records for SIPs In October 2024, investments through monthly systematic investment plans into mutual funds surpassed Rs 25,000 crore for the first time and reached …

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
1 month, 1 week ago

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

Live Mint  

New Delhi: The union government’s direct-tax collection has grown by 15.41%, after tax refunds, to ₹12.1 trillion so far this financial year, the Central Board of Direct Taxes said on Monday. Securities transaction tax contributed ₹35,923 crore so far this financial year, 90% more than the ₹18,909 crore collected in the same period a year ago, CBDT data showed. So …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
1 month, 1 week ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years
2 months ago

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years

New Indian Express  

The number of income taxpayers has doubled in the past 10 years, with direct tax collection tripling during the same period. Tax buoyancy has shown a sharp improvement, indicating that the growth in tax collection was more than double the nominal GDP growth rate. This is a positive sign for the Indian economy, as it suggests that the country is …

Net direct tax collection rises 22% so far this fiscal
4 months, 1 week ago

Net direct tax collection rises 22% so far this fiscal

Live Mint  

New Delhi: The central government’s direct tax collection has risen 22.48% so far this fiscal. Personal tax collection jumped 30% year-on-year to ₹4.47 trillion, while corporate taxes have risen 6% to ₹2.22 trillion. For FY25, the government targets a corporate tax mop-up of ₹10.2 trillion and personal income tax collection of ₹11.87 trillion. The total direct tax collection before adjusting …

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
4 months, 2 weeks ago

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report

Hindustan Times  

Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation associated with it has also consequently risen, according to a Moneycontrol report, which cited data compiled from various Union Budgets. Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen How much tax default did India …

India's 2024 Budget: A push for tax reform
5 months, 1 week ago

India's 2024 Budget: A push for tax reform

India Today  

The 2024 Budget, scheduled for July 23, may see tweaks to key tax policies to boost government revenue — bold steps to tackle tax evasion and improve tax compliance. 1980: For every Rs 100 collected, Rs 11 came from income tax, Rs 12 from corporate tax, Rs 1 from other direct taxes, and Rs 76 from other indirect taxes. 2000: …

’Middle class bearing more weight than corporates’: Congress slams Centre over taxation policy ahead of Budget 2024
5 months, 1 week ago

’Middle class bearing more weight than corporates’: Congress slams Centre over taxation policy ahead of Budget 2024

Live Mint  

Congress leader Jairam Ramesh attacked the government on Sunday over the taxation in the country, saying that "the middle class continues to bear the weight of heavy taxation." In a post on X, Ramesh said, ".data has just been released that gross personal income tax collections amounted to ₹3.61 lakh crore during April 1-July 1 2024, while gross corporate tax …

Budget may make some announcements to enable Global Minimum Tax
5 months, 1 week ago

Budget may make some announcements to enable Global Minimum Tax

Deccan Chronicle  

The global minimum tax set to take effect in 2025 will have legal and economic ramifications for multinational corporations with an annual global turnover exceeding €750 million. “India being a signatory of the Global Minimum Tax Agreement and the regime set to take effect in 2025, the government will have to bring some enabling provisions and mechanisms in the Budget. …

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress
5 months, 1 week ago

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress

New Indian Express  

NEW DELHI: With the personal income tax collections exceeding the corporate tax collections, the Congress alleged on Sunday that the corporate tax cut has put over Rs 2 lakh crore in the "pockets of billionaires," while the middle class continues to bear the weight of heavy taxation. The opposition party's attack on the government came a day after data released …

Direct tax collections for FY 2024-25 surge by over 20%
6 months ago

Direct tax collections for FY 2024-25 surge by over 20%

Hindustan Times  

The Ministry of Finance has announced a robust growth in India's direct tax collections for the financial year 2024-25, with net collections increasing by 20.99 per cent and gross collections growing by 22.19 per cent. As per the provisional figures up to June 17, 2024, the net direct tax collections for FY 2024-25 have reached ₹4,62,664 crore. The net collections …

Amid debate about inheritance tax, rising share of personal income tax and indirect tax remains a concern
7 months, 3 weeks ago

Amid debate about inheritance tax, rising share of personal income tax and indirect tax remains a concern

The Hindu  

Over the last week, during the election campaign, the Congress’ manifesto and the party’s emphasis on social justice and welfare were suddenly thrust into the limelight. The data also show that revenues from personal income tax and securities transaction tax grew at almost double the pace compared to revenues from corporate taxes last year. Chart 1 | the chart shows …

India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore
9 months ago

India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore

ABP News  

The direct tax collection of the Centre after adjusting for refunds has grown 19.88 per cent annually to Rs 18.9 lakh crore in FY2023-24, compared to the corresponding period of the preceding Financial Year, where collections amounted to Rs 15.7 lakh crore. This substantial rise in net collections primarily comprises Corporation Tax at Rs 9.1 lakh crore and Personal Income …

India’s direct tax collections grow 20 per cent for financial year 2023-24
9 months ago

India’s direct tax collections grow 20 per cent for financial year 2023-24

India TV News  

Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes said net direct tax collection of Rs 18,90,259 crore includes Corporation Tax at Rs 9,14,469 crore and Personal Income Tax, including Securities Transaction Tax at Rs 9,72,224 crore. Advance …

Direct tax kitty crosses 97% of 2023-24 target
9 months ago

Direct tax kitty crosses 97% of 2023-24 target

The Hindu  

Growth in India’s net direct tax collections slowed a bit over the past month but with a kitty of more than ₹18.9 lakh crore, more than 97% of the revised target for 2023-24 had been met by March 17, as per provisional figures released by the Finance Ministry on Tuesday. Personal Income Taxes, including the Securities Transaction Tax, continued to …

India’s direct tax collection jumps 20% to ₹18.9 trillion
9 months ago

India’s direct tax collection jumps 20% to ₹18.9 trillion

Live Mint  

New Delhi: The Centre’s direct tax collection after adjusting for refunds has grown 19.88% annually to ₹18.9 trillion, the Central Board of Direct Taxes said in a statement on Tuesday quoting provisional figures for up to Sunday. That was on account of a sharp upward revision of ₹ 1.21 trillion in personal income tax collection for this year as the …

India’s net direct tax collection rises 20.25% YoY to ₹15.60 lakh crore
10 months, 1 week ago

India’s net direct tax collection rises 20.25% YoY to ₹15.60 lakh crore

Live Mint  

Central Board of Direct Taxes, on Sunday, released a new report revealing that the country’s net direct tax collections have increased by 20.25 % to ₹15.60 lakh crore higher than the net collections for the corresponding period of last year. The gross direct tax collection soared to ₹18.38 lakh crore as of 10 February which is 17.30% higher than the …

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary
10 months, 2 weeks ago

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary

The Hindu  

February 06, 2024 08:19 pm | Updated 09:05 pm IST - NEW DELHI India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25, led by an uptick in the more ‘equitable’ direct taxes, and the government will continue to simplify and rationalise the tax regime to reduce disputes, litigation and intrusive means of enforcement, …

The big tax growth the finance minister spoke of isn’t reflecting in the interim budget’s estimates
10 months, 3 weeks ago

The big tax growth the finance minister spoke of isn’t reflecting in the interim budget’s estimates

Live Mint  

In her interim budget for FY25, finance minister Nirmala Sitharaman took credit for the surge seen in direct tax collections over the previous 10 years. Direct tax collections net of refunds touched ₹14.7 lakh crore by 10 January this year, growing 19.4% over the same period of FY23. After that, direct tax collections shot up 40.1% in FY21, benefiting from …

Direct tax to GDP ratio climbs to 6.11% in F.Y. 2022-23: CBDT releases comprehensive data
11 months ago

Direct tax to GDP ratio climbs to 6.11% in F.Y. 2022-23: CBDT releases comprehensive data

India TV News  

Net direct tax collections surged by 160.52% from Rs. Enhanced resources for collection amidst rising taxpayers Despite a substantial rise in the number of taxpayers, the income tax department allocates increased resources to direct tax collection, indicating a reliance on advanced technology and improved compliance measures. Gross direct tax collections soar Gross direct tax collections in 2022–23 amount to Rs …

Robust revenues: On direct tax collection target and fiscal consolidation
11 months, 1 week ago

Robust revenues: On direct tax collection target and fiscal consolidation

The Hindu  

With little under a quarter left in the financial year 2023-24, the government has met nearly 81% of its direct tax collection target. Economists believe the exchequer’s net direct tax kitty will end up surpassing the Budget estimate of ₹17.2 lakh crore by about a lakh crore if not more, with the full-year growth settling at around 18%. Within direct …

Direct tax collections cross 80% of 2023-24 target
11 months, 1 week ago

Direct tax collections cross 80% of 2023-24 target

The Hindu  

India’s net direct tax collections touched ₹14.7 lakh crore by January 10, meeting over four-fifths of this year’s target and reflecting a growth of 19.4% over the same period of 2022-23. The Central Board of Direct Taxes on Thursday said that provisional direct tax collections continue to register ‘steady growth’ with gross collections rising 16.77% to ₹17.18 lakh crore, led …

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government
11 months, 3 weeks ago

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

The Hindu  

Personal income and corporate tax collections are likely to rise to more than ₹19 lakh crore in 10 years of Prime Minister Narendra Modi-led Government, providing more leeway to come out with people-friendly tax measures. Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased from ₹6.38 lakh crore in FY 2013-14 to ₹16.61 …

Tax kitty up 20.7%, crosses 75% of Budget target
1 year ago

Tax kitty up 20.7%, crosses 75% of Budget target

The Hindu  

India’s net direct tax collections had grown 20.7% by December 17 to cross ₹13.70 lakh crore, the Finance Ministry said on Monday, indicating that 75.15% of the year’s direct tax target has been met. “The net direct tax collection of ₹13,70,388 crore includes Corporation Tax at ₹6,94,798 crore and Personal Income Tax including Securities Transaction Tax at ₹6,72,962 crore,” the …

Consistent increase in 2023-24 revenue collections: UP govt
1 year ago

Consistent increase in 2023-24 revenue collections: UP govt

Hindustan Times  

LUCKNOW The UP government on Tuesday claimed a consistent increase in its revenue receipts with a collection of ₹2,580.78 crore more in November this year. We have maintained transparency in the release of data about tax and non-tax collections,” said minister for revenue Suresh Khanna while releasing the details about the state government’s total revenue collections. The state government’s non-tax …

Direct tax collections reach ₹11.07 lakh crore, up 18% YoY
1 year, 2 months ago

Direct tax collections reach ₹11.07 lakh crore, up 18% YoY

Hindustan Times  

A total of ₹11.07 lakh crore worth of direct taxes have been collected so far in the current financial year 2023-24, representing a 17.95 per cent increase on a yearly basis, Central Board of Direct Taxes Chairman Nitin Gupta said on Tuesday. Direct tax collection, net of refunds, stood at ₹9.57 lakh crore which is 21.82 per cent higher than …

Direct tax collection grows 17% to ₹5.84 tn
1 year, 4 months ago

Direct tax collection grows 17% to ₹5.84 tn

Live Mint  

The central government has collected ₹5.84 trillion in net direct tax revenues as of 10 August, marking a significant 17% improvement over a year-ago, according to an official statement. This accounts for about one third of the ₹18.2 trillion direct tax collection target of the government for FY24. The Central Board of Direct Taxes said in a statement quoting provisional …

India’s industrial output growth hits three-month low
1 year, 4 months ago

India’s industrial output growth hits three-month low

The Hindu  

India’s industrial output growth hit a three-month low of 3.7% in June, from a revised 5.3% in May, according to official data, with consumer durables’ production slipping back into contraction mode, and manufacturing growth slowing to 3.1% from 5.8% in May. The data released by National Statistical Office stated that mining output grew 7.6% in June, while Electricity generation, which …

Direct tax collections rise 16% to ₹6.53 lakh crore so far this fiscal
1 year, 4 months ago

Direct tax collections rise 16% to ₹6.53 lakh crore so far this fiscal

Hindustan Times  

Net direct tax collections swelled 17.33 per cent to ₹5.84 lakh crore so far this fiscal, reaching 32 per cent of the full-year budget estimates. On a gross basis, direct tax collection grew 15.73 per cent to ₹6.53 lakh crore till August 10 in the current fiscal. Net direct tax collection, after adjusting refunds, stands at ₹5.84 lakh crore, which …

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark
1 year, 8 months ago

Income-tax collections grow 20% in one year, nears ₹20 lakh crore mark

Hindustan Times  

NEW DELHI: The Union finance ministry on Monday reported over 20% year-on-year jump in gross direct tax revenue at ₹19.68 lakh crore for the financial year ending March 31, 2023, days after it declared about 22% annualised growth in Goods and Services Tax collections at ₹18.1 lakh crore, reflecting sustained growth in economic activities, better tax administration and ease of …

Net direct tax growth for 2022-23 to slow to 15%
1 year, 8 months ago

Net direct tax growth for 2022-23 to slow to 15%

The Hindu  

India’s net direct tax collections growth, which stood at about 17% for this year by early March, is expected to moderate to 15% for the full financial year 2022-23, a top Finance Ministry official told The Hindu. By February 10, the growth rate stood at 18.4%, which declined further to 16.8% by March 10, when the total net direct tax …

Has India’s corporation tax gamble paid off yet?
1 year, 8 months ago

Has India’s corporation tax gamble paid off yet?

Live Mint  

From being raised to 45% in India’s historic budget of 1991, to now just around half of that, corporate tax rates in India have come a long way and are now indeed more competitive globally. The effective tax rate among Indian companies has now fallen below even the statutory concessional rate, a Mint analysis shows. 26%: Corporate tax's share in …

Net direct tax collection rises 16.8%, reaches closer to Budget target for 2022-23
1 year, 9 months ago

Net direct tax collection rises 16.8%, reaches closer to Budget target for 2022-23

The Hindu  

India’s net direct tax kitty had risen 16.8% to touch ₹13.73 lakh crore by Friday, reflecting a slight dip in growth over the past month but reaching within striking distance of the Budget target for this year, with three weeks still to go. The uptick in net Personal Income Tax collections continued to outstrip Corporate Income Tax flows, rising 20.73% …

India's net direct tax collections up 17% to Rs 13.73 lakh crore till March 10
1 year, 9 months ago

India's net direct tax collections up 17% to Rs 13.73 lakh crore till March 10

India Today  

The net direct tax collection for the fiscal year 2022-23 has so far grown by 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the full financial year. The gross collections are 22.58 per cent higher than the gross collections for the corresponding period of last year, the Central Board …

Gross direct tax collections grew 24% to ₹15.67 lakh crore this fiscal
1 year, 10 months ago

Gross direct tax collections grew 24% to ₹15.67 lakh crore this fiscal

Hindustan Times  

Gross direct tax collections grew 24 per cent to ₹15.67 lakh crore so far this fiscal, the finance ministry said on Saturday. After adjusting for refunds, the net direct tax collection stood at ₹12.98 lakh crore, a growth of 18.40 per cent. Direct tax collections up to 10th February, 2023 show that gross collections are at ₹15.67 lakh crore which …

Union Budget 2023-24: Why setting store by GST, fuel tax regressive
1 year, 11 months ago

Union Budget 2023-24: Why setting store by GST, fuel tax regressive

Firstpost  

The Goods and Services Tax collections have been surging recording Rs 1.50 lakh crore or so in December 2022. Fuel tax collections for the Centre too have been impressive at around Rs 8 lakh crore in each of the three financial years ending 2021. Add to this the Value-Added Tax imposed by state governments on fuel at the ballpark figure …

Govt Rakes In Rs 13,63,649 Crore As Direct Tax In FY23, Collection Up By 26% Over Last Fiscal Year
2 years ago

Govt Rakes In Rs 13,63,649 Crore As Direct Tax In FY23, Collection Up By 26% Over Last Fiscal Year

ABP News  

New Delhi: India's gross direct tax collections stood at Rs 13,63,649 crore, recording a 25.90 per cent growth, in the financial year, as against ₹10,83,150 crore in the same period for the preceding year. 9,47,959 Cr in the corresponding period of the preceding Financial Year, representing an increase of 19.81%: Ministry of Finance pic.twitter.com/TYrUFhKmCm — ANI December 18, 2022 Notably, …

Direct tax collection jumps 24 pc in first half of FY23
2 years, 2 months ago

Direct tax collection jumps 24 pc in first half of FY23

India TV News  

Highlights The gross collection of taxes on corporate earnings rose 16.74 per cent during April 1 to October 8 Personal income tax collection jumped 32.30 per cent Direct tax collection came at Rs 8.98 lakh crore between April 1 to October 8, 2022 Gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in …

DC Edit | Direct tax kitty hints at economic revival
2 years, 3 months ago

DC Edit | Direct tax kitty hints at economic revival

Deccan Chronicle  

The direct tax collection numbers released on Sunday are yet another indication of economic revival in the country. Of this, the cumulative advance tax collections till date grew by 17 per cent indicating a better performance of businesses in the country. If one correlates the growth in the size of the Indian economy and its corresponding direct collection by taking …

Direct tax collection rises by 30% to Rs 8.36 lakh crore
2 years, 3 months ago

Direct tax collection rises by 30% to Rs 8.36 lakh crore

Deccan Chronicle  

NEW DELHI: Gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore till September 17 of current fiscal year on higher advance tax mop-up buoyed by the economic revival post pandemic, the finance ministry said on Sunday. After adjusting for refunds amounting to Rs 1.35 lakh crore, net direct tax kitty grew 23 per cent to Rs …

Direct Tax Collections Jump 23% To Rs 7 Lakh Crore During Current Fiscal So Far; Check Details
2 years, 3 months ago

Direct Tax Collections Jump 23% To Rs 7 Lakh Crore During Current Fiscal So Far; Check Details

News 18  

In another indication of a post-pandemic economic recovery, India’s direct tax collections continue to grow at a robust pace in the current financial year so far. Direct tax collections jumped 23 per cent year-on-year to Rs 7 lakh crore during the financial year 2022-23 so far. It said, “The figures of direct tax collections for the FY 2022-23, as on …

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore
2 years, 3 months ago

Direct Tax Collection Rises 35.46% So Far This Fiscal, Govt Collects Rs 6.48 Lakh Crore

News 18  

Direct tax collection has increased by 35.46 per cent to Rs 6.48 lakh crore in the current fiscal up to September 8, the finance ministry said. Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 per cent higher than the net collections for the corresponding period of last year, according to the data released …

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