Direct tax collections rise 23.51% to ₹8.65 lakh cr in FY24
The net direct tax collections include corporation tax at ₹4,16,217 crore (net of refund) and personal income tax including securities transaction tax at ₹4,47,291 crore (net of refund).
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India's debt has trebled in 9 years…so has tax collection
Centre's debt moved up from 49.9% of GDP in FY14 to 55.2% by Sept 2022. Core debt of govt sector in G-20 nations grew from 76.1% to 89.2% while from 39.2% to 61.8% in EMEs
20% TCS on credit card spends abroad not high: Govt
International credit cards are being issued with limits in excess of the current LRS limit of $2,50,000, says Ministry of Finance
Corporate tax collection up 55% to ₹7.1 lakh cr in FY22
The percentage of net corporate tax to GDP, at current prices, was 3.01% in FY22, shows FinMin data.
IMF, World Bank are right; indicators point to 2023 GDP growth challenges
From tax collections to credit outflow, capex, sectoral growth, inflation, interest rates, rupee devaluation and external factors, there are challenges to sustaining growth.
Centre's gross tax revenue up 34% to ₹27.07 lakh crore in FY22
Revenue secretary Tarun Bajaj says gross tax collections soared to a record high of ₹27.07 lakh crore in FY22.
FY22 direct tax collection beats revised estimates, up 48%
The net direct tax collection as on March 16 stands at ₹13,63,038 crore, up 48.4% from ₹9,18,430.5 crore in the corresponding period of the previous financial year.
Budget 2022: Good news on corporate tax
Expected growth in corporate tax collections during FY22 indicates a strong economic revival in spite of Covid-19.
Advance tax zooms past pre-Covid level; up 53% at ₹4.59 lakh cr
Advance tax collection in April-December FY22 is up 49.76% over the corresponding period in FY 2018-19 when the advance tax collection was ₹3,07,096.3 crore.
A week of global shocks for markets
After the spike in crude oil price, the US Fed’s rate cut hurts equity indices and investor sentiments.
