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Prem Siddhapura

Unicorn is coming so...ย โ€ขย 7m

**Tax Revenue Hits Record Highs** ๐Ÿ“ˆ The governmentโ€™s net direct tax collection, post-refunds, surged 15.4% to โ‚น12.3 lakh crore between April and November 10, 2024. Gross collections also saw a robust 21.2% increase, reaching โ‚น15.02 lakh crore. ๐Ÿ’ฐ Securities transaction tax receipts skyrocketed, nearly doubling to โ‚น15,923 croreโ€”thanks to market activity. ๐Ÿ˜† Refunds issued by the government grew by 53% year-over-year to โ‚น2.91 lakh crore. The fiscal year's direct tax target stands at โ‚น22.07 lakh crore. โ€ผ๏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 โ‚น10.2 lakh croreโ€”a projected 12% increaseโ€”the Centre expects personal income tax collections to exceed estimates by โ‚น1.3 lakh crore. The net personal income tax target for this year is โ‚น1.87 lakh crore, a 13.6% boost from โ‚น1.64 lakh crore in FY 2023-24. ๐Ÿฆ

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