Implementation of New Tax Regime and Its Impact on Direct Tax Revenue
1.Introduction: A tax is a compulsory transfer of funds from the private sector to the government. Among different sources of
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DIRECT TAX
Centre’s net direct tax collection grows 21% so far in FY25
The Central government has so far this year collected Rs.4.62 trillion in direct taxes after adjusting for refunds, marking a
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Direct tax collections up 18% in FY24, top revised budget estimate
Government’s net direct tax collections, after adjusting for refunds, grew 17.7 per cent year-on-year to Rs 19.58 lakh crore in
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Use of tech, AI aiding direct tax compliance, says CBDT Chairman
Around 44 lakh e-mails were sent to taxpayers in December for mismatches between their declared income and financial transactions based
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Net direct tax mop-up at 81% of Budget target
The income tax (I-T) department said that the net direct tax collection so far this fiscal jumped 19.41 per cent
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Direct tax collections surge 18% up
Gross direct tax receipts totalled Rs 11.1 lakh crore up to October 9, 2023 – nearly 18% higher than the
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Net direct tax collection up 23.5% till mid-Sept on better advance mop-up
Net direct tax collection grew 23.51 per cent to over Rs 8.65 lakh crore till mid-September, on higher advance tax
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Direct tax mop-up skyrockets 173%
India’s gross direct tax collection increased 173 per cent to over Rs 19.68 lakh crore in 10 years to 2022-23.
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Direct tax collection in April-August surges 33%
Collections from direct taxes in the April-August period touched Rs. 4.80 lakh crore, marking about 33 per cent growth over
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FY23 direct tax mop-up rises 45% so far
Reflecting an uptick in economy, net direct tax collections between April and mid-June jumped 45 per cent to over Rs
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