direct tax


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Gross direct tax collections grew 24% to 15.67 lakh crore this fiscal

Gross direct tax mop-up grew 24 per cent to ₹15.67 lakh crore, net collection touched 79 per cent of Revised Estimates (RE) of direct tax collection for current fiscal, the CBDT said.

The revised estimates for the current fiscal pegged direct tax revenues at <span class='webrupee'>₹</span>16.50 lakh crore.
Published on Feb 11, 2023 02:19 PM IST
PTI | | Posted by Singh Rahul Sunilkumar

Budget 2023: What is Direct Tax? Meaning, types and significance

Direct taxes play an important role in funding government spending and redistributing income in the economy. The term "direct" in Direct tax means that the tax liability falls on the person or entity earning the income or holding the wealth.

The two major direct taxes are income tax and corporate tax.
Published on Jan 24, 2023 07:36 PM IST

Gross direct tax revenue jumps nearly 24% this fiscal

Gross corporate income-tax (CIT) grew at 16.73% during this period, the growth in personal income-tax (PIT), including securities transaction tax (STT), was 32.30%, finance ministry said in a statement.

The provisional figures of direct tax collections up to October 8 continued to register “steady” growth, finance ministry said in a statement. (Representative use)
Updated on Oct 10, 2022 04:59 AM IST
ByRajeev Jayaswal, New Delhi

Direct tax collection jumps 24% in first half of FY23

The gross collection of taxes on corporate earnings rose 16.74 per cent during April 1 to October 8, while personal income tax collection jumped 32.30 per cent, the tax department said in a statement.

Tax on corporate and individual income makes up for direct taxes.(Representative image)
Published on Oct 09, 2022 12:47 PM IST

Direct tax kitty grows 30% to 8.36 lakh crore on higher advance tax mop-up

Gross collection of direct taxes for 2022-23 stands at ₹8,36,225 crore compared to ₹6,42,287 crore in the year-ago period, registering a growth of 30 per cent, the ministry said in a statement.

For April-September, advance tax collection grew 17 per cent to <span class='webrupee'>₹</span>2.95 lakh crore. This includes advance tax payout by corporate taxpayers of <span class='webrupee'>₹</span>2.29 lakh crore.(HT file photo. Representative image)
Published on Sep 18, 2022 05:10 PM IST
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