Net direct tax collection rises 16 pc to Rs 16.90 lk cr for this fiscal year
net direct tax collection during April 1, 2024 -January 12, 2025 period stood Rs 16.90 lakh crore, a 16 per cent growth year-on-year.
Budget with ET
Budget 2025 can position India as the world’s China Plus One hub with manufacturing prowess
Will India's robust GST kitty help Sitharaman stick to fiscal glide path?
Budget 2025’s starry aim: Does India need more funds to fuel its cosmic dreams?
The gross direct tax collections, before refunds, saw a robust 19.94 per cent growth year-on-year, rising from Rs 17.21 lakh crore in FY 2023-24 to Rs 20.64 crore this Financial Year. Refunds issued during this period stood at Rs 3.74 lakh crore, an increase of 42.49%.
Segment-wise, corporate tax (CT) collections performed steadily, with gross collections reaching Rs 9.71 lakh crore, up from Rs 8.33 lakh crore last year. After refunds, the net corporate tax collections stood at Rs 7.68 lakh crore, compared to Rs 7.10 lakh crore in the corresponding period last fiscal.
Non-corporate tax (NCT), which primarily includes personal income tax, showed strong momentum. Gross collections climbed to Rs 10.45 lakh crore, compared to Rs 8.58 lakh crore last year. Net collections for this segment grew by 15.88 per cent significantly to Rs 8.74 lakh crore from Rs 7.19 lakh crore.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar, IT Specialist and
