Indian Governments Direct Tax Collection Rises 19.4%

Indian Governments Direct Tax Collection Rises 19.4%

VoM News Desk | January 11, 2024 | 09:27 PM IST | Breaking News | Follow on Google News

Indian Governments Direct Tax Collection Rises19.4% Image/Pixabay

Indian Governments Direct Tax Collection Rises

The Indian government’s net direct tax collection has recorded a 19.4% YoY increase, reaching INR 14.7 trillion ($177.1 billion) in the ongoing financial year up to January 10.

This collection includes both corporate tax and personal income tax, which grew by 12.4% and 27.3%, respectively. The government has achieved approximately 81% of its budget target of INR 18.2 trillion for the fiscal year.

The gross tax collected, before adjusting for refunds, stood at INR 17.2 trillion during the same period, reflecting a 17% YoY increase.

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