Direct tax collections surge 182% in a decade to over Rs 19.60 lakh crore in FY24

Direct tax collections in India have surged by 182% over the past decade, with personal income tax collections rising by 294.3% and corporate tax collections increasing by 112.85%. The number of income tax returns filed more than doubled, and the direct tax-to-GDP ratio improved from 5.55% to 6.64%.

Oct 17, 2024 - 18:00

Direct tax collections surge 182% in a decade to over Rs 19.60 lakh crore in FY24

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Direct tax collections in India have surged by 182% over the past decade, with personal income tax collections rising by 294.3% and corporate tax collections increasing by 112.85%. The number of income tax returns filed more than doubled, and the direct tax-to-GDP ratio improved from 5.55% to 6.64%.