🚀 Medial just raised $500k in Pre-Series A. Tap to read the announcement. 🎉

Download App

Home

Switch theme

Blog . Feedback . Privacy
Community Guidelines

Back to feeds

Prem Siddhapura

Stealth • 1m

**Tax Revenue Hits Record Highs** 📈 The government’s net direct tax collection, post-refunds, surged 15.4% to ₹12.3 lakh crore between April and November 10, 2024. Gross collections also saw a robust 21.2% increase, reaching ₹15.02 lakh crore. 💰 Securities transaction tax receipts skyrocketed, nearly doubling to ₹15,923 crore—thanks to market activity. 😆 Refunds issued by the government grew by 53% year-over-year to ₹2.91 lakh crore. The fiscal year's direct tax target stands at ₹22.07 lakh crore. ‼️ 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 ₹10.2 lakh crore—a projected 12% increase—the Centre expects personal income tax collections to exceed estimates by ₹1.3 lakh crore. The net personal income tax target for this year is ₹1.87 lakh crore, a 13.6% boost from ₹1.64 lakh crore in FY 2023-24. 🏦

0 replies3 likes

Recommendations from Medial

Ashutosh Mishra

Stealth • 3m

Direct Tax collections for FY 2024-25 as of 17 September, 2024 Net Collections, YOY comparison Corporate Tax : ₹4.53 lakh crore, up 10.5% Personal Income Tax : ₹5.15 lakh crore, up 18.8% STT : ₹26,154 crore, up 96% Other Taxes : ₹1,812 crore, up

1 replies5 likes

Sameer Patel

Stealth • 7m

Financial knowledge Indian Tax slabs Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown: 1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years. 2. 5% Tax: I

1 replies9 likes

Mahendra Lochhab

Stealth • 4m

51 lakh Indians filed Income Tax returns this year, an increase of 7.5% from the previous year.

2 replies2 likes

Anonymous

Stealth • 4m

Deepinder Goyal-led Zomato's revenue rose 74% year-on-year to Rs 4,206 crore in Q1FY25. Meanwhile, the company's net profit jumped to Rs 253 crore. During the same quarter last year, Zomato posted a net profit of Rs 2 crore and a revenue of Rs 2,

3 replies21 likes

Hawk
•

Medial • 5m

Was it a Budget of expectations? The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime. 1. Standard Deduction Increase: T

20 replies52 likes

financialnews

Stealth • 2m

Stocks to Watch: Tech Mahindra, HDFC Bank, Kotak Bank, Jio Financial Tech Mahindra reported a significant rise in consolidated net profit, which more than doubled to ₹1,250 crore in the July-September quarter of FY2024-25. This jump was primarily dr

0 replies3 likes

Anonymous

Stealth • 4m

A Labourer Found A Real Diamond Worth Rs 1 Crore Becomes its Official Owner. Rs 42 lakh Tax Will Be Deducted From Rs 1 crore. I hope he manage finance properly. 🥺BUT 42 LAKH DEDUCTED AS TAX 😭

11 replies12 likes

Tushar Aher Patil

Stealth • 1m

Ritesh Agarwal-led hospitality giant OYO recorded a net profit of Rs 158 crore and revenue of Rs 1,578 crore in Q2 FY25, PTI reported. This marks a significant turnaround, as the company had posted a net loss of Rs 50 crore during the same period la

0 replies4 likes

Arcane

Stealth • 5m

ONE INTERESTING OBSERVATION SERIES DAY #4 Good news and bad news on the Indian tax collection front. Personal income tax is surging, with a near 20% increase over the past three months, suggesting that individual spending might be on the rise, ind

3 replies6 likes

Mahendra Lochhab

Stealth • 20d

The central government has collected GST of ₹ 1.82 lakh crore in November 2024. This GST collection is 8.5% more than the GST collection in November last year. In November 2023, the government has collected GST of ₹ 1.68 lakh crore.