Direct Tax

Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about Rs 6.55 lakh crore, up from over Rs 5.93 lakh crore in the same period of the last year

Net direct tax revenue jumps 9% to Rs 10.82 lakh crore till September 17

Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about Rs 5.84 lakh crore, up from over Rs 5.13 lakh crore in the same period of the last year

FM Sitharaman directs CBDT to withdraw all low-value tax cases within 3 months

Of the 5.77 lakh pending appeals, over 2.25 lakh cases are targeted for disposal in FY 2025–26, potentially resolving more than Rs 10 lakh crore of disputed tax demand.

Drop in tax collection not a worry, expect 5–6% rise in September, says govt source

The government has pegged mid-year mop-up at Rs 11.34 lakh crore, driven by inflows from the second advance tax instalment which is due September 15

Net direct tax collection slips 1.39% to Rs 4.58 lakh crore; refunds surge over 58%

While the non-corporate tax witnessed 2.68 percent negative growth in advance tax, corporate tax grew by 5.86 percent till June 19.

Direct tax mop up for 2024-25 fiscal misses target owing to higher refunds

New Delhi, Apr 25 The net direct tax collection for the 2024-25 financial year narrowly missed the target, even as it grew 13.57 per cent to over Rs 22...

Net direct tax kitty swells 13% to Rs 21.27 lakh crore so far in FY25, STT collections rise 55%

The net corporate tax collection between April 1, 2024, and March 16, 2025, was Rs 9.69 lakh crore

Higher personal income tax collections could bolster direct tax collections by Rs 13,000 cr for FY25

The stronger-than-anticipated direct tax inflows provide the government with additional fiscal room.

New Income-Tax Bill to replace 'assessment year' with 'tax year’ , make compliance easier

Tax year, which will run from April 1-March 31, will be the period during which income is earned and reported

Net direct tax kitty swells 15% to Rs 17.78 lakh crore till February 10

In the revised estimates (RE) for the current fiscal, the government has pegged income tax collections at Rs 12.57 lakh crore, up from the budget estimate of Rs 11.87 lakh crore

Net direct tax collection up over 15.9% at Rs 16.89 lakh crore

While the non-corporate tax witnessed 21.5 percent growth in advance tax, corporate tax grew by only 8 percent till January 12.

Simplification to be the focus for taxation in 2025

With monthly gross GST collections stabilising at around Rs 1.8 lakh crore and gross direct tax collections steadily rising at 20 per cent rate, the effort to ease compliance burden for individuals as well as corporates will gain traction.

Direct Tax-to-GDP ratio reaches record high of 6.64% in FY24; Collections surge 182% in 10 years

The data revealed that over the past 10 years, corporate tax collections have more than doubled, growing from Rs 4.29 lakh crore in FY15 to over Rs 9.11 lakh crore in FY24.

Supreme Court disposes of 573 direct tax cases under revised monetary limits

The Union Budget 2024-25 enhanced the monetary limits for filing appeals related to Direct Taxes, Excise, and Service Tax in various judicial forums.

Net direct tax collection jumps over 22% till Aug 11

The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 6.92 lakh crore includes Corporation Tax (CIT) of Rs 2.2 lakh crore

Direct tax relief for middle class in Budget 2024 is ‘sufficient’: Revenue Secy

Budget 2024 has given relief of Rs 17,500 this year in direct tax. In last year's Union Budget, the government had reduced the number of tax slabs, and adjusted the rebate limit in the new tax regime to Rs 7 lakh.

India’s net direct tax collection jumps over 19% till July 11

The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 5.74 lakh crore includes Corporation Tax (CIT) at Rs 2.1 lakh crore.

India's FY25 net direct tax collections rise 21% YoY till June 17

On a gross basis, tax collection before refunds grew more than 22% year-on-year to Rs 5.16 lakh crore

No changes in new tax regime from April 1: Finance Ministry

The option of opting out from the new tax regime is available till the filing of return for the assessment year 2024-25, the ministry has said

Direct tax collection grows 20% to Rs 18.90 lakh crore on higher advance tax mop-up

The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).

CBDT sets Rs 1 lakh threshold per assessee for withdrawal of old tax demands

The CBDT order said that such outstanding tax demands pertaining to income tax, wealth tax and gift tax as on January 31, 2024, shall be remitted and extinguished "subject to the maximum ceiling of Rs 1 lakh for any specific taxpayer/assessee".

Rs 20 lakh cr pending direct tax demands under litigation: Govt official

Of the pending demands, Rs 3,500 crore will be waived, as per the Budget announcement on Feb 1, 2024.

Direct tax collection reaches 80% of revised FY24 target at Rs 15.60 lakh cr

Current fiscal's net direct tax collection surged 20% YoY to Rs 15.60 lakh crore, hitting 80% of revised full-year budget estimates.

62,000 tax appeals disposed of till Dec 2023, expect pick up: CBDT Chairman

The Budget has announced that the government will give up on Rs 3,500 crore worth of disputed direct tax demands up to 2014-15, for which the CBDT will come out with a scheme soon

Budget 2024: Announcement on withdrawal of petty direct tax demands unlikely to reduce pendency in courts, say legal experts

Compared to other ministries, the Finance Ministry files the maximum number of cases. As of Jul 2023 the ministry was fighting over 1.7 lakh cases.