India's income tax

India’s Net Direct Tax Collections Reach Rs 22.26 Lakh Crore After Refunds

India’s direct tax collections in gross terms grew by 15.59 per cent year-on-year to reach Rs 27.02 lakh crore in the financial year 2024-25, according to data released by the Central Board of Direct Taxes (CBDT). In 2023-24, gross direct tax collections stood at Rs 23.38 lakh crore. The increase...

Budget 2025: How India’s Budget Process Differs From Other Countries

Industries and taxpayers are eagerly awaiting the Union Budget 2025, anticipating changes and announcements from Finance Minister Nirmala Sitharaman. A government budget is more than just an annual statement of financials; it is a forecast of a nation's financial future, detailing estimated expenditures and revenues for the upcoming fiscal year....