Key Points
New Delhi: India's personal income tax collection grew at double the pace of corporate tax collections in the last one decade, on account of better compliance and reduction in corporate tax, the latest time series data released by the Central Board of Direct Taxes on Thursday showed...
The personal income tax collection grew by 294.3% to 10.45 lakh crore in FY24, from 2.65 lakh crore in FY15, while corporate tax collections rose by 112.85% to 9.11 lakh crore from 4.28 lakh crore in FY15..
Total number of taxpayers surged to 10.41 crore, from 5.70 crore in FY15, as per the data..
Five states of Maharashtra, Karnataka, Delhi, Tamil Nadu and Gujarat contributed over 72% of net direct tax collections, totalling 14.19 lakh crore out of 19.61 lakh crore..
