Personal Income Tax To GDP Ratio Rises To 2.94% In FY22
The ministry said the Personal Income Tax (PIT), which is paid by individuals, to GDP ratio has been steadily increasing from 2.11 in FY 2014-15 to 2.94 in FY 2021-22.
Apr 25, 2023, 20:35 PM IST
Direct tax collections jump over 100% so far in FY22 despite COVID-19 led economic disruption
Corporation Tax (CIT) at Rs 74,356 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax (STT) at Rs. 1,11,043 crore (net of refund) compromise the net direct tax for FY22.
Jun 16, 2021, 17:02 PM IST
Income Tax refunds of Rs 98,625 crore issued to 26.2 lakh taxpayers in 5 months
This also includes personal income tax (PIT) refunds amounting to Rs 29,997 crore issued to 24,50,041 taxpayers and corporate tax refunds amounting to Rs 68,628 crore issued to over 1,68,421 taxpayers during this period.
Sep 02, 2020, 21:13 PM IST
Direct tax collections surge 15.7% to Rs 6.75 lakh cr in April-November
Refunds worth Rs 1.23 lakh crore have been issued in the eight months of the current fiscal, which is 20.8 percent higher than refunds issued in the same period last year.
Dec 10, 2018, 12:52 PM IST
Direct tax collections till September at Rs 5.47 lakh crore
The net Direct Tax collections represent 38.6 percent of the total Budget Estimates of Direct Taxes for FY 2018-19.
Oct 04, 2018, 12:52 PM IST
25% surge in filing of IT returns : Central Board of Direct Taxes
The chamber also noted a 41.79 percent increase in the advance tax collections of Personal Income Tax, as on August 05.
Aug 07, 2017, 17:54 PM IST
Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%
The government's revenue collection from indirect tax during April-February grew by an impressive 22.2 percent while that of direct tax rose by 10.7 percent.
Mar 10, 2017, 13:53 PM IST
Direct tax mop-up rises 15% to Rs 1.89 lakh crore in Apr-Aug
Net direct tax collections during the April-August period has grown 15.03 percent to Rs 1.89 lakh crore, led by robust collections in personal income tax.
Sep 12, 2016, 10:55 AM IST
Budget 2016: Common man expects hike in personal income tax exemption limit
With just less than a week remaining for the Finance Minister to present the Union Budget for 2016, the common man has started building up expectations from the Narendra Modi-led NDA government at the Centre.
Feb 24, 2016, 12:10 PM IST
Budget 2016: Raise personal income tax exemption limit to Rs 4 lakh, demands Assocham
The industry body also demanded additional incentives for savings and higher tax allowance for expenditure on education and health, quoting findings from its Aam Aadmi survey.
Feb 15, 2016, 15:39 PM IST
Budget 2016: Common man's expectations from FM Jaitley
The common man expects the income tax limit to be increased from prevailing Rs 250,000 to Rs 300,000.
Feb 11, 2016, 13:19 PM IST
Income Tax department publishes names of 18 more defaulters owing over Rs 1,100 crore
The Income tax department's public notice containing the names of the 18 defaulters who have either gone untraceable or have inadequate assets to pay is the third such list this year after names of 49 defaulters with a tax liability of over Rs 2,000 crore were earlier released in two instalments.
Dec 30, 2015, 15:37 PM IST
'No change in personal income tax rates in near-term'
Personal income tax rates will not be changed in the near term even as peak corporate tax rate will be cut by 5 percent over a four year period beginning 2016-17, a top finance ministry official said.
Mar 03, 2015, 19:22 PM IST
Net direct tax collection at Rs 2.60 lakh crore
Net direct tax collection so far in the current fiscal stood at Rs 2.60 lakh crore, said a senior finance ministry official.
Sep 28, 2014, 18:13 PM IST
Budget 2014-15 OVERVIEW: Income tax exemption limit raised to Rs 2.5 lakh; PPF cap hiked
Bringing cheer to individual taxpayers, Finance Minister Arun Jaitley in his maiden Union Budget 2014-15 in Parliament on Thursday, raised personal tax exemption limit to Rs 2.5 lakh from the current Rs 2 lakh.
Jul 10, 2014, 10:10 AM IST
