Question

    Consider the following statements with respect to the

    gross direct tax collections as of October- I.India's gross direct tax collection increased by 17.95 per cent on the year to Rs 11.07 lakh crore as of October 2023. II. Net collections stood at Rs. 10.45 lakh crore, 21.82 per cent higher than net collections for the comparable period of last year. III. As far as Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections are concerned, the growth rate for CIT is 7.30 per cent while that for PIT is about 29 per cent. Which of the following statements is/are correct? 
    A Only I Correct Answer Incorrect Answer
    B Only I & III Correct Answer Incorrect Answer
    C Only II Correct Answer Incorrect Answer
    D Only I & II Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

      India's gross direct tax collection increased by 17.95 per cent on the year to Rs 11.07 lakh crore as of October 2023.   Net collections stood at Rs. 9.57 lakh crore, 21.82 per cent higher than net collections for the comparable period of last year. As far as Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collections are concerned, the growth rate for CIT is 7.30 per cent while that for PIT is about 29 per cent.

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