2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What was the amount of India’s net direct tax collections as of January 10, at almost 87% of the target for 2022-23?
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13.54 lakh crores
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15.30 lakh crores
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12.31 lakh crores
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16.18 lakh crores
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Explanation:
Detailed explanation-1: -India’s net direct tax collections stood at ₹12.31 lakh crore as on Tuesday, accounting for almost 87% of the target for 2022-23 and reflecting a 19.55% growth over the year-earlier period, the Finance Ministry said on Wednesday, asserting that tax revenues continued to register ‘steady growth’.
Detailed explanation-2: -The correct answer is option 2, i.e. Corporate Tax.
Detailed explanation-3: -The provisional figures of Direct Tax collections for the Financial Year (FY) 2022-23 show that Net collections are at Rs. 16.61 lakh crore, compared to Rs. 14.12 lakh crore in the preceding Financial Year i.e. FY 2021-22, representing an increase of 17.63%.
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