Net direct tax collections rise 16.5%
6 days, 2 hours ago

Net direct tax collections rise 16.5%

The Hindu  

With a little over three months left in 2024-25, India’s net direct tax collections were up 16.5%, crossing ₹15.82 lakh crore by December 17, with non-corporate taxes leading the growth. Data shared by the Central Board of Direct Taxes on Wednesday showed that gross tax receipts had grown 20.3% so far this year to cross ₹19.21 lakh crore, with corporate taxes rising 16.9% and non-corporate receipts up 22%. Advance tax collections had risen 20.9% to over ₹7.56 lakh crore from ₹6.25 lakh crore a year ago, but a similar pattern emerged on this front with corporate taxes growing 16.7%, less than half the 35% increase in non-corporate receipts. In 2023-24, net direct tax revenues had risen 17.7% to ₹19.58 lakh crore, with Personal Income Tax share rising to 53.3% from 50.06% in the previous year.

History of this topic

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
6 days, 6 hours ago
Net direct tax collection crosses Rs 15.82 lakh crore mark, registers 16.45 per cent growth
6 days, 19 hours ago
Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials
2 weeks, 5 days ago
Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
4 weeks ago
Will exceed direct tax collection target for FY25: CBDT chief
1 month ago
India Expects to Surpass Rs 22 Lakh Cr Direct Tax Target
1 month ago
Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes
1 month, 1 week ago
Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
1 month, 1 week ago
India is investing more in mutual fund SIPs, and paying more tax too
1 month, 1 week ago
Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
1 month, 1 week ago
It is time India started indexing tax slabs and exemptions with inflation
Trending News
1 month, 1 week ago
Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals
2 months ago
India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months ago
Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years
2 months ago
U.P. govt mops up over ₹98k cr tax revenue in six months
2 months, 2 weeks ago
India’s current account deficit in Q1 FY25 widens to $9.7 billion
2 months, 3 weeks ago
U.P govt’s revenue earnings up by ₹1725.83 crore in August
3 months, 2 weeks ago
Net direct tax collection rises 22% so far this fiscal
4 months, 1 week ago
Net direct tax collection grows 22 per cent to Rs 6.93 lakh crore for current fiscal: Govt data
4 months, 1 week ago
Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
4 months, 2 weeks ago
GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever
4 months, 3 weeks ago
Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
5 months ago
Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
5 months ago
Afternoon briefing: New tax regime slabs revised in Budget 2024; IIT Delhi's submission to SC in NEET row; and more
5 months ago
Old vs proposed income tax slabs under new regime. What has changed?
5 months ago
Budget 2024: Income tax slabs changed, standard deduction increased. Read details
5 months ago
Punjab sees 15% jump in tax revenue despite sluggish GST
5 months ago
Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?
5 months ago
India's 2024 Budget: A push for tax reform
5 months, 1 week ago
Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress
5 months, 1 week ago
Direct tax mop-up rises 20% to ₹5.74 lakh cr on higher corporate advance tax
5 months, 1 week ago
Direct tax collections for FY 2024-25 surge by over 20%
6 months ago
Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
6 months, 2 weeks ago
Amid debate about inheritance tax, rising share of personal income tax and indirect tax remains a concern
7 months, 3 weeks ago
Direct Tax Collections Grow 18 Per Cent To Rs 19.58 Lakh Crore In FY24, Beat Revised Estimates
8 months ago
MCD logs dip in property tax collection, taxpayers in FY24
8 months, 3 weeks ago
Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report
8 months, 3 weeks ago
India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore
9 months ago
India’s direct tax collections grow 20 per cent for financial year 2023-24
9 months ago
FY24 net direct tax revenue rises 20% to Rs 18.9 lakh crore
9 months ago
Direct tax kitty crosses 97% of 2023-24 target
9 months ago
India’s direct tax collection jumps 20% to ₹18.9 trillion
9 months ago
U.P. govt collected ₹2,813 cr more revenue in Feb this year
9 months, 2 weeks ago
Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data
9 months, 3 weeks ago
India’s net direct tax collection rises 20.25% YoY to ₹15.60 lakh crore
10 months, 1 week ago
Net direct tax collection stands at Rs 15.60 lakh crore Y-o-Y growth of 20%
10 months, 1 week ago
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
The big tax growth the finance minister spoke of isn’t reflecting in the interim budget’s estimates
10 months, 3 weeks ago
56 lakh updated ITRs filed, Rs 4,600 crore taxes collected in two years: CBDT
10 months, 3 weeks ago

Discover Related