You are here

Income Tax Revenue

Income tax department gets its revenue from the following Acts functioning under it.

1. Income Tax Act
2. Wealth Tax Act
3. Expenditure tax Act
4. Gift Tax Act
5. Interest Tax Act

According to the figures from the income tax department in the year 2008 – 2009 the collection from corporate taxes has been Rs.2, 08, 991 crores.

In the year 2008 – 2009 collection from income tax has been Rs. 1, 17, 740 crores.

In the year 2008 -2009 collection from other direct taxes has been Rs. 416 crores.

In the year 2008 – 2009 the collection from customs has been Rs. 93, 893 crores.

In the year 2008 – 2009 the collection from central excise has been Rs. 95, 258 crores.

In the year 2008 – 2009 the collection from Service tax has been Rs. 49, 479 crores.

When we look at these figures we see the highest amount of collection of taxes has been in the area of direct income tax. These figures are supposed to grow largely in the next financial year according to economists.

Add new comment