The EURUSD currency pair remains in a tight range above the round-level support of 1.0900 on Monday as it struggles for direction. Investors look for fresh cues at the start of a busy data week that will likely indicate how much the Federal Reserve will cut interest rates in September. For fresh interest rate cues, … Read more
Direct tax collection: The Central Board of Direct Taxes on Friday released the data on Direct Tax (DT) collections till July 11, 2024, for FY 2024-25. The net direct tax collections have increased by 24.07% to Rs 5.74 lakh crore. In FY23, the net collections stood at Rs 4.80 lakh crore. This includes corporate taxes of Rs … Read more
India’s net direct tax collections surged by 17.7 per cent year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding the revised estimates by Rs 13,000 crore.
India’s net direct tax collections for the fiscal year ended March 2024 surged by 17.7% to Rs 19.58 crore, exceeding both Budget and revised estimates.
The gross corporate tax collection (provisional) in FY 2023-24 was up 13.06 per cent to Rs 11.32 lakh crore.
The country’s net direct tax collections surged by 17.7% year-on-year to ₹19.58 crore in the fiscal year ended March 2024, exceeding both budget and revised estimates.
Fact: India’s net direct tax collections surged by 17.7% year-on-year to Rs 19.58 crore in the fiscal year ended March 2024, exceeding Budget Estimates by 7.40%.
The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.
Direct tax collections for the financial year 2023-24 have ended up higher than Budget Estimates and Revised Estimates, primarily driven by a better-than-expected performance in personal income tax (PIT). This is the first time PIT collections will be larger than corporate taxes.
The Income Tax Department’s net direct tax collections for the fiscal year ending in March 2024 exceeded estimates, reaching Rs 19.58 lakh crore, a 17.7% increase year-on-year.