India's direct tax collections surged 20% to Rs 18.9 lakh crore, with personal income tax exceeding corporation tax.
India's direct tax collections jumped 20% to cross Rs 18.9 lakh crore during the current financial year, according to the Finance Ministry. The net direct tax collection as of March 17 included corporation tax at Rs 9.14 lakh crore and personal income tax, including securities transaction tax, at Rs 9.72 lakh crore. The government has achieved over 97% of its direct tax target set in its revised estimates for the financial year, with personal income tax collections continuing to be higher than corporation tax mop-up.
March 19, 2024
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