Quick Summary
India's direct tax collections have seen an unprecedented surge of 182% in the decade under Prime Minister Narendra Modi's leadership, crossing ₹19.60 trillion in the fiscal year 2023-24. According to the latest 'Time Series Data' released by the Income Tax Department, corporate tax collections more
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
BEST VALUE
2 YEAR PLAN
3,499
(Excl. of GST ₹629)
1 YEAR PLAN
1,999
(Excl. of GST ₹359)
3 MONTHS PLAN
999
(Excl of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Direct tax collections for the fiscal year 2023-24 reached ₹19.60 trillion.
Direct tax collections have grown by 182% in the last 10 years.
Corporate tax collections stood at ₹9.11 trillion, while personal income tax collections reached ₹10.45 trillion in FY24.
The number of income tax returns filed has more than doubled, rising from 4.04 crore in 2014-15 to over 8.61 crore in 2023-24.
The tax-to-GDP ratio improved to 6.64% in 2023-24, up from 5.55% in 2014-15.
The total number of taxpayers grew significantly from 5.70 crore in AY 2014-15 to 10.41 crore in AY 2023-24.
CAclubindia
