India has recorded strong growth in direct tax collection for the financial year FY23. The net collections stood at Rs16.61 lakh crore for the 2023 fiscal, registering a growth of 17.63% YoY. The collections have exceeded budget estimates by Rs2.41 lakh crore. India’s direct tax collections for the last financial year that is FY 22 stood at Rs14.12 lakh crores.
4 Apr 2023After adjusting for refunds, the net growth in corporate tax collections was 18.7% and personal income tax was 14.9%.
1 min read4 Oct 2018Finance secretary Hasmukh Adhia says it is important to 'remove the unevenness' in tax collections, with the salaried class paying more tax than businessmen
1 min read6 Feb 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared