Direct tax kitty to cross target, says CBDT chief

Posted on:
Key Points

The direct tax collection target of Rs 18.23 lakh crore for the current fiscal is likely to be exceeded, said CBDT chairman Nitin Gupta here on Wednesday...

The economy is doing well, and we will get a better picture of full-year tax collection once the third instalment of advance tax numbers come in by December 15, Gupta said after inaugurating the taxpayers lounge at the India International Trade Fair (IITF)...

The latest trend released a few days ago showed net direct tax collection between April 1 and November 9 at Rs 10.60 lakh crore, which was 22% higher than the same period a year ago..

You might be interested in

Net direct tax collections up 22 % to ₹10.60 lakh crore in FY24

10, Nov, 23

The net corporate tax collection growth is 12.48 per cent, while the mop-up from personal income tax has risen by 31.77 per cent.

At Rs 14.70 lakh cr, direct tax kitty up 19%

12, Jan, 24

The net direct tax collection so far this fiscal rose 19.41% to Rs 14.70 lakh crore, reaching about 81% of the full-year target, the Income Tax Department...

Interim Budget 2024: Modi govt hopes to bump up tax revenues in FY25

02, Feb, 24

Finance Minister Nirmala Sitharaman proposed higher direct and indirect taxes in the interim Budget 2024 to boost India's economy. The gross tax revenue for fiscal 2025 is estimated to be Rs 38.31 lakh crore, up 11.45% from the revised target for this fiscal year. The government aims to raise Rs 21.99 lakh crore from direct taxes and Rs 16.31 lakh crore from indirect taxes in fiscal year 2025. The revised direct tax collection aim for the current financial year is Rs. 19.45 lakh crore, while indirect tax collection is revised to Rs 14.92 lakh crore.

Net direct tax collection rises 19% till Jan 11, reaches 81% of FY24 target

11, Jan, 24

India's net direct tax collection has witnessed a significant rise of 19% to reach Rs 14.70 lakh crore as per the latest official government data released on Thursday. Moreover, the data further highlights that the tax collection has already reached 81% of the full-year target.

Direct tax collection grows 20 pc to Rs 18.90 lakh cr till Mar 17

20, Mar, 24

New Delhi, Mar 19 (PTI) The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17, the income tax department said on Tuesday. The net direct tax collection of Rs 18,90,259 crore(as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal […]

Net direct tax mop-up grows 16% to Rs 4.75 lakh crore so far this fiscal

10, Jul, 23

The Income Tax department in a statement said the collection has touched 26.05 per cent of the total budget estimates of direct taxes for full 2023-24 fiscal of Rs 18.23 lakh crore.

Direct tax mopup surges 22.6% to Rs 16.68 lakh crore

12, Mar, 23

The collection is 96.7% of the budget estimate for FY23 and 83.2% of the upward revised estimate for the year, the Central Board of Direct Taxes (CBDT) said in a statement.

India's net direct tax collection at Rs 15.6 lakh crore till Feb 10, reaches 80% of revised target

11, Feb, 24

India's net direct tax collection reached Rs 15.60 lakh crore as of February 10, representing approximately 80 percent of the revised target set for the entire financial year.