Numbers are suitably poised for granting small taxpayers' wishes

Quick Summary:

Personal income tax (PIT) has become a significant source of tax revenue in India, contributing 31% to the centre's gross tax collections in FY24.

In contrast, corporate income tax (CIT) contributions have declined.

The government's focus on widening the tax net and other measures have driven this increase in PIT collections, while keeping corporate taxes competitive.

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Article Details

Author / Journalist: Sameer Gupta

Category: EconomyBusiness

Markets: IndiaChinaDenmarkFranceItaly

Topics: India Tax-GDP Ratio PIT Collections Growth Business news Personal Income Tax Budget 2024 Expectations Corporate Income Tax

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-31 @ 09:59:14 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1024 words

Reading Time: 6 minutes read

Sentences: 43 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25656659

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