financial year

January 14, 2025 1:20 PM

Net direct tax collections surge 16% to ₹16.90 lakh crore in FY25

India’s net direct tax collections recorded a robust 15.88% jump to ₹16.90 lakh crore during April 1, 2024–January 12, 2025, compared to the same period of the previous financial year, according to the latest figures compiled by the Income Tax Department. The gross direct tax collections, before refunds, increased by 19.94% to ₹20.64 lakh crore during this period, compared to ₹17.21 lakh crore in the corresponding period of the previous year. Personal income tax collections surged 21...

India’s job creation accelerates with 4.67 crore jobs in 2023-24

The Indian economy added an impressive 4.67 crore jobs in the financial year ending March 2024, and the pace of job creation has continued into 2024-25, with growth observed in both formal and informal sectors, according to official data. The total estimated employment in India’s Unincorporated Sector recorded a robust growth of 10.01% during the period from October 2023 to September 2024, compared to the previous year, as revealed by the Annual Survey of the Ministry of Statistics, released ...