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Personal Income Tax

Direct tax collection grows 24.58% to Rs 14.71 lakh crore till January 10

Direct tax collection grows 24.58% to Rs 14.71 lakh crore till January 10

Wed, Jan 11, 2023

Net direct tax collection, after adjusting refunds,  stood at Rs 12.31 lakh crore, 19.55 per cent higher than the net collections for the corresponding period of last year.

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Direct tax collection soars 48% in FY22, advance tax payment up 41%

Direct tax collection soars 48% in FY22, advance tax payment up 41%

Thu, Mar 17, 2022

India's collection from tax on personal and corporate income jumped over 48 percent in the current fiscal after a 41 percent surge in advance tax payments, mirroring sustained economic recovery in a year that witnessed two waves of coronavirus infections.

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Union Budget 2020 INDIA BLUEPRINT: Zee Business Managing Editor Anil Singhvi outlines what common man, others want

Union Budget 2020 INDIA BLUEPRINT: Zee Business Managing Editor Anil Singhvi outlines what common man, others want

Fri, Jan 31, 2020

Union Budget 2020 INDIA BLUEPRINT: Relief in personal income tax, rationalizing long-term capital gains tax (LTCG), Dividend Distribution Tax (DDT) and incentives for homebuyers could be the best Budget 2020 gift, says Zee Business Managing Editor Anil Singhvi (#BudgetOnZee)

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ITR filing: Direct Tax task force recommends new personal income tax slabs

ITR filing: Direct Tax task force recommends new personal income tax slabs

Wed, Aug 28, 2019

ITR filing: Personal income is currently taxed at 5 per cent for income between Rs 2.5 and Rs 5 lakh, at 20 per cent for income between Rs 5 lakh and Rs 10 lakh, and 30 per cent for an income of over Rs 10 lakh. 

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Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh cr in Apr-Sept

Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh cr in Apr-Sept

Thu, Oct 04, 2018

On Thursday, Finance Minister said that the gross direct tax collection in the first six months of the financial year grew 16.7  per cent to Rs 5.47 lakh crore.

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CBDT asks field officers to step up collections to meet Rs 10.05 lakh crore target

CBDT asks field officers to step up collections to meet Rs 10.05 lakh crore target

Sun, Feb 25, 2018

In the April-January period, the government has collected Rs 6.95 lakh crore from direct taxes, which was 69.2 per cent of the revised estimate of Rs 10.05 lakh crore for full 2017-18 fiscal. In the last fiscal (2016-17), the government had collected Rs 8.49 lakh crore as direct taxes.

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What if the govt abolishes personal income tax?

What if the govt abolishes personal income tax?

Sat, Jan 27, 2018

The personal income tax collections to GDP ratio has been only around 2%

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Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Wed, Oct 11, 2017

 In the Union Budget 2017, the government has fixed direct collections target at Rs 9.8 lakh crore. So far, the govt has received Rs 3.86 lakh crore between April - September 2017. 

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Direct tax collections: Did demonetisation, GST slow personal income tax growth?

Direct tax collections: Did demonetisation, GST slow personal income tax growth?

Tue, Sep 12, 2017

Four months into this fiscal year and the direct tax collections may have increased but the percentage of personal income tax growth was less than half of the year ago period.

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Issued income tax refunds to the tune of Rs 61,920 crore till July, Govt says

Issued income tax refunds to the tune of Rs 61,920 crore till July, Govt says

Wed, Aug 09, 2017

Surabhi Ahluwalia, Commissioner of Income Tax, Central Board of Direct Taxes (CBDT), in a statement on Wednesday said, "So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections is concerned, the growth rate for CIT is 7.2% while that for PIT (including STT) is 17.5%."

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Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Direct tax collections grow 15% till June 2017, at Rs 1.42 lakh crore

Thu, Jul 06, 2017

Key Highlights:  Direct tax collections rose 14.8%, at Rs 1.42 lakh crore  Personal income tax rose 12.9% before refunds

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Niti Aayog recommends taxing farmers, Arun Jaitley says no

Niti Aayog recommends taxing farmers, Arun Jaitley says no

Wed, Apr 26, 2017

Bibek Debroy, member of NITI Aayog on Tuesday had made a strong case for taxing agriculture income, an opinion contrary to the government's stated position, as reported by PTI. 

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Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Fri, Mar 10, 2017

The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.

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Here are salient features of Direct Tax proposals of Budget 2017

Here are salient features of Direct Tax proposals of Budget 2017

Wed, Feb 01, 2017

Read salient features of Direct Tax proposals of India's Union Budget 2017-18 announced on February 1, 2017. 

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Union Budget 2017: Basic exemption limit on income tax could be increased to Rs 3.5 lakh

Union Budget 2017: Basic exemption limit on income tax could be increased to Rs 3.5 lakh

Wed, Feb 01, 2017

Besides the increase in the tax slabs there is also expected to be an increase in the exemptions under 80C.

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Direct Tax collection's share in economy falls to decade low of 5.47% in FY16

Direct Tax collection's share in economy falls to decade low of 5.47% in FY16

Sat, Apr 30, 2016

Maharashtra contributes the biggest share of direct taxes at Rs 2.77 lakh crore in 2014-15 when total collections were Rs 6.96 lakh crore.

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