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Prem Siddhapura
Unicorn is coming so...ย โขย 7m
**Tax Revenue Hits Record Highs** ๐ The governmentโs net direct tax collection, post-refunds, surged 15.4% to โน12.3 lakh crore between April and November 10, 2024. Gross collections also saw a robust 21.2% increase, reaching โน15.02 lakh crore. ๐ฐ Securities transaction tax receipts skyrocketed, nearly doubling to โน15,923 croreโthanks to market activity. ๐ Refunds issued by the government grew by 53% year-over-year to โน2.91 lakh crore. The fiscal year's direct tax target stands at โน22.07 lakh crore. โผ๏ธ With corporate tax collections performing below expectations, the finance ministry is counting on personal income tax growth to fill the gap. While corporate tax collections are budgeted at โน10.2 lakh croreโa projected 12% increaseโthe Centre expects personal income tax collections to exceed estimates by โน1.3 lakh crore. The net personal income tax target for this year is โน1.87 lakh crore, a 13.6% boost from โน1.64 lakh crore in FY 2023-24. ๐ฆ
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