NET Indian direct tax rises 23% to7.04 Lakh crore SO FAR

[Turingsage]

Net direct tax mop up rises 23% to Rs 7.04 lakh crore so far this fiscal​

CBDT Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in 2021-22​

Written by PTI

Updated: September 27, 2022 7:48:24 pm

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July 31 was the last date for filing ITRs for salaried individuals for income earned in the 2021-22 fiscal

The net direct tax collection has increased 23 per cent to Rs 7.04 lakh crore so far this fiscal, the income tax department said on Tuesday.
Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in 2021-22.

“The momentum of the last fiscal continues in this fiscal with net direct tax collection of Rs 7.04 lakh crore so far, which is a growth of 23 per cent over the same period last fiscal,” Gupta

FE said.

 

[Black Tornado]

Indian economy is booming, naysayers can cry…

 

[Wood]

Great to see that direct taxes are increasing. I'm not a fan of indirect taxes, but direct tax collection increase is indeed a good reason to celebrate! It likely means that India's tax base has increased

 

[Indos]

Why do you make thread over this one LOL

Indonesia government revenue January-August is up 50 % compared to last year as comparison, AlhamduliLLAH. More than double than your number than

Indonesia posts US$7.1bil Jan-Aug budget surplus, govt expects higher energy bills

Indonesia had a budget surplus of 107.4 trillion rupiah ($7.10 billion) in the January to August period, equivalent to 0.58% of gross domestic product, its finance minister said on Monday, compared with a 2.26% deficit in the same period in 2021.

www.thestar.com.my

 

[Black Tornado]

Why do you make thread over this one LOL

Indonesia government revenue January-August is up 50 % compared to last year as comparison, AlhamduliLLAH. More than double than your number than

Indonesia posts US$7.1bil Jan-Aug budget surplus, govt expects higher energy bills

Indonesia had a budget surplus of 107.4 trillion rupiah ($7.10 billion) in the January to August period, equivalent to 0.58% of gross domestic product, its finance minister said on Monday, compared with a 2.26% deficit in the same period in 2021.

www.thestar.com.my

 

[lightoftruth]

Why do you make thread over this one LOL

Indonesia government revenue January-August is up 50 % compared to last year as comparison, AlhamduliLLAH. More than double than your number than

Begani shadi mein abdullah deewana

 

[VkdIndian]

Dear @Indos can you comment or make a post without shoving Indonesia into everything?
Try and make a comment as most other FMs do.
Humble request.

 

[INS_Vikrant]

Indian govt must push for more industrial giants to enter semiconductor manufacturing industry as our economy grows our need for semiconductor chips increases and in few years time if we are completely reliant on other countries for it like now our trade deficit will widen quite a bit. And also we must go full throttle on green hydrogen as well as increase percentage of ethanol blending and spend money on research and development of thorium based reactors to reduce our fossil fuel imports. Along with Defense, food, fuel and semiconductor are three strategic and economically vital sectors where we must strive to become as much atmanirbhar as possible. With gods grace we are blessed with so much arable land and hard working farmers we are self sufficient on food production however its Scary to see that in other three sectors we are almost completely reliant on imports to meet our needs, and not much was being done to address this situation until few years ago.

 

[xeuss]

Great to see that direct taxes are increasing. I'm not a fan of indirect taxes, but direct tax collection increase is indeed a good reason to celebrate! It likely means that India's tax base has increased

I know salaries have increased a lot - at least in the sector I am exposed to....would that be the reason?

 

[srshkmr]

I know salaries have increased a lot - at least in the sector I am exposed to....would that be the reason?

The salaries have increased 2x -3x in my sector as well. However that would contribute a little. I think the major reason is increase in the tax base

 

[Wood]

I know salaries have increased a lot - at least in the sector I am exposed to....would that be the reason?

Yes, that could have brought more people outside the tax exemption category. Also, this seems to be YoY figure. Not sure if COVID recovery also has an influence. What we want to see is real growth in wages and movement of working population into organized sector leading to an increase in tax base

Edit: So we hope that it is this type of development that has led to an increase in tax collection

Hindustan Times: Tata recruits around 1,900 J’khand girls; over 800 leave for TN plant for training.

Tata recruits around 1,900 J’khand girls; over 800 leave for TN plant for training

Officials said the selected girls would be withdrawing a salary of ₹15,000 for one year along with other employee benefits as per law, besides getting an opportunity to pursue their graduation.

www.hindustantimes.com

 

[Farhan Bohra]

Why do you make thread over this one LOL

Indonesia government revenue January-August is up 50 % compared to last year as comparison, AlhamduliLLAH. More than double than your number than

Indonesia posts US$7.1bil Jan-Aug budget surplus, govt expects higher energy bills

Indonesia had a budget surplus of 107.4 trillion rupiah ($7.10 billion) in the January to August period, equivalent to 0.58% of gross domestic product, its finance minister said on Monday, compared with a 2.26% deficit in the same period in 2021.

www.thestar.com.my

7 billion budget surplus.

And I don't know what your obsession with India is, that you love putting Indonesian data into every Indian thread, instead of comparing Indo economy/ politics, to comparable peers.