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. On Saturday, CBDT launched a ‘compliance-cum-awareness campaign’ to assist taxpayers to accurately complete the schedule ‘foreign assets’ and to report income from foreign sources in their income tax returns filed in the current assessment year. Compliance mandatory Compliance with this schedule is mandatory under the Black Money and Imposition of Tax Act, 2015, which requires the full disclosure of foreign assets and the income, the tax department said last week.

Tax Assets Direct Foreign Target Collection Tax Collection Cbdt Foreign Assets  assets  income  target  foreign  cbdt  agarwal  information  read  chief  direct  fy25  trillion  exceed  collection  tax

History of this topic

Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth
5 days, 19 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 …

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 …

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 …

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 …

Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data
4 months, 1 week ago

Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data

India TV News  

India's net direct tax collection surged by 22.48 per cent, reaching approximately Rs 6.93 lakh crore as of August 11 for the current fiscal year, according to government data released on Monday. The overall tax collection includes Rs 4.47 lakh crore from personal income tax, showcasing the strong contribution of individual taxpayers to the exchequer. Refunds worth Rs 1.20 lakh …

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 …

Direct Tax Collections Grow 18 Per Cent To Rs 19.58 Lakh Crore In FY24, Beat Revised Estimates
8 months ago

Direct Tax Collections Grow 18 Per Cent To Rs 19.58 Lakh Crore In FY24, Beat Revised Estimates

ABP News  

The direct tax collections for the 2023-24 fiscal year increased almost 18 per cent against the funds collected in the previous fiscal year, official data from the Ministry of Finance revealed on Sunday. ➡️Net Direct Tax collections for FY2023-24 exceed the Budget Estimates by ₹ 1.35 lakh crore i.e by 7.40% & Revised Estimates by 0.67% ➡️Gross Direct Tax collections …

MCD logs dip in property tax collection, taxpayers in FY24
8 months, 3 weeks ago

MCD logs dip in property tax collection, taxpayers in FY24

Hindustan Times  

The Municipal Corporation of Delhi has registered a dip in property tax revenue collection as well as the number of taxpayers in 2023-24 even as the other sectors, including parking, The property tax department tentatively collected around ₹2,137 crore till March 31 with 1,258,000 tax payers filing returns, according to one of the officials cited above. “Last year, MCD offered …

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report
8 months, 3 weeks ago

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report

Live Mint  

The central government’s tax collection target of over ₹34.37 lakh crore for fiscal year 2023-24 has been broadly met on the back of robust economic activity and improved compliance, according to a report by PTI. The net direct tax collection grew 19.88 per cent to over ₹18.90 lakh crore till March 17 on higher advance tax mop-up. Advance tax collections …

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 …

Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%
10 months, 1 week ago

Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%

India TV News  

New Delhi: Net direct tax collection in the current fiscal year has witnessed a growth of 20 per cent year-on-year to Rs 15.60 lakh crore. Direct tax collections up to 10th February 2024 show that gross collections are at Rs 18.38 lakh crore, which is 17.30 per cent higher than the gross collections for the corresponding period of last year," …

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 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 …

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 …

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 …

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 …

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% to Rs 8.7 Lakh Crore During April-November; Hits 62% of FY23 BE
2 years ago

Direct Tax Collection Jumps 24% to Rs 8.7 Lakh Crore During April-November; Hits 62% of FY23 BE

News 18  

Showing a steady growth, net direct tax collections in India jumped 24.26 per cent year-on-year to Rs 8.77 lakh crore till November 11 in the current financial year 2022-23. Steady growth in Direct Tax collections!Net collection in FY 2022-23 is 24.26% higher than the net collection for the corresponding period of the preceding year.61.79% of Budget Estimates for FY 2022-23 …

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 …

Corporate tax collection up by 34 per cent between April-July
2 years, 4 months ago

Corporate tax collection up by 34 per cent between April-July

India TV News  

Highlights Tax collected on income of companies surged by 34% in first 4-months of current fiscal It indicates that a simplified tax regime with low rates is yielding results, said Income Tax Dept Corporate tax collections at Rs 7.23 lakh crore in fiscal 2021-22 were 58% higher Business news : Tax collected on income of companies surged by 34 per …

Direct Tax Collections Jump 51% YoY to Rs 2.8 Lakh Crore During April 1-June 15
2 years, 6 months ago

Direct Tax Collections Jump 51% YoY to Rs 2.8 Lakh Crore During April 1-June 15

News 18  

India’s direct tax collections jumped 51 per cent to Rs 2.8 lakh crore in the current quarter till June 15, compared with Rs 1.85 lakh crore in the year-ago same period. Total advance tax collections show growth of about 49 per cent year-on-year during April 1-June 15 to Rs 42,680 crore, against Rs 28,779 crore a year ago, sources told …

Tax collection in FY23 likely to be ‘far better’ than Budget estimate: Revenue Secretary
2 years, 6 months ago

Tax collection in FY23 likely to be ‘far better’ than Budget estimate: Revenue Secretary

The Hindu  

Revenue Secretary Tarun Bajaj on Thursday said tax revenue collections in the ongoing fiscal year were expected to be ‘far better’ than the Budget estimates. The country's tax collections soared to a record high of ₹27.07 lakh crore last year, compared with the Budget estimate of ₹22.17 lakh crore. “But whatever indicators I have at the moment, I feel very …

Govt. borrows 58% of target despite 74% more direct tax collections
3 years, 2 months ago

Govt. borrows 58% of target despite 74% more direct tax collections

The Hindu  

In spite of the Centre collecting a whopping 74% more direct taxes so far this fiscal on an annualised basis at ₹ 5.70 lakh crore, it has also borrowed a massive 58 % of the budgeted amount during the same period by selling ₹ 7.02 lakh crore worth of debt securities in the market. While at the weekly auction of …

Net direct tax collections so far this fiscal rise over 91% to ₹2.49 lakh cr
3 years, 5 months ago

Net direct tax collections so far this fiscal rise over 91% to ₹2.49 lakh cr

Live Mint  

New Delhi: Despite the worse condition due to COVID-19 which impacted economic growth, the net direct tax collection has doubled to over ₹2.49 lakh crore so far this fiscal, mainly driven by personal income tax and advance tax mop up, Income Tax department sources told ANI. The net direct tax collections between April 1 and July 3 stood at ₹2.49 …

Net Direct Tax Collections For FY 2021-22 Have Grown At Over 100% To Rs 1,85,871 Crore
3 years, 6 months ago

Net Direct Tax Collections For FY 2021-22 Have Grown At Over 100% To Rs 1,85,871 Crore

ABP News  

Mumbai: Net direct tax collections for the financial year 2021-22 have grown at over 100% to Rs Rs.1,85,871 crore despite the disruption caused by the COVID-19 pandemic on the economy. The net direct tax collections include Corporation Tax at Rs. 74,356 crore and Personal Income Tax including Security Transaction Tax at Rs. 96,923 crore and Personal Income Tax including Security …

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 …

Direct tax collection exceeds FY-21 estimate by 4.42% at ₹9.45 lakh crore
3 years, 8 months ago

Direct tax collection exceeds FY-21 estimate by 4.42% at ₹9.45 lakh crore

Hindustan Times  

Rajeev Jayaswal The net direct tax collections of ₹ 9.45 lakh crore include corporation tax at ₹ 4.57 lakh crore and ₹ 4.88 lakh crore personal income tax. [email protected] New DelhiThe Union government’s net direct tax collections for the year 2020-21 surpassed the revised estimate by 4.42% at ₹9.45 lakh crore, the finance ministry said on Friday, disclosing figures that …

Net Direct Tax Mop Up Exceeds Revised Estimates at Rs 9.45 Lakh Crore in FY21
3 years, 8 months ago

Net Direct Tax Mop Up Exceeds Revised Estimates at Rs 9.45 Lakh Crore in FY21

News 18  

The net direct tax collection for the fiscal ended March 31 stood at Rs 9.45 lakh crore, an increase of 5 per cent over the revised estimates in the Union Budget. Central Board of Direct Taxes Chairman P C Mody on Friday said the income tax department has exceeded the revised estimates despite issuing substantial refunds in the 2020-21 fiscal. …

CBIC steps on the gas to shore up revenue collections for FY21
3 years, 9 months ago

CBIC steps on the gas to shore up revenue collections for FY21

Live Mint  

Facing a ₹1 trillion revenue shortfall, the Central Board of Indirect Taxes and Customs is pulling out all stops to try and shore up revenue collections in the last fortnight of the fiscal. CBIC last week held a meeting of its members and senior field officers on ways to improve tax receipts and has now asked officers to nudge businesses …

Net Direct Tax Collection in FY21 Down 13% to Rs 5.87 Lakh Crore Amid Covid-19 Pandemic
4 years ago

Net Direct Tax Collection in FY21 Down 13% to Rs 5.87 Lakh Crore Amid Covid-19 Pandemic

News 18  

Tax collection has been subdued amid the pandemic and the net direct tax collections so far in the current financial year declined by 13 per cent to Rs 5.87 lakh crore, sources said. The corporate tax collection so far in FY21 stood at Rs 3.04 lakh crore. Personal income tax collections stand at Rs 2.70 lakh crore. Gross GST revenue …

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen
4 years, 4 months ago

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen

The Hindu  

With tepid collections proving to be a challenge in meeting tax revenue goals, CBDT Chairman P.C. In a letter to Principal Chief Commissioners of Income Tax, Mr. Mody said that many taxpayers are waiting to file applications under ‘Vivad Se Vishwas’ scheme, but they are also waiting for correct demand to be intimated to them. of cleaning up of the …

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