Direct tax revenue doubled to Rs 4.46 lakh crore in 5 yrs to FY11

• During 2010-11, the government’s revenue from direct tax collection rose by 94% to Rs 4,46,935 crore in from Rs 2,30,181 crore in 2006-07.
• During the same period, the Indirect tax collection rose to Rs 3,45,127 crore from Rs 2,41,538.

But, the number of tax assesses fell in 2008-09 and 2010-11 from the previous years for the 5 years under review. During these years, the number of income tax assesses were:

• 3.19 million (2006-07)
• 3.37 million (2007-08)
• 3.27 million (2008-09) (Decrease)
• 3.41 million (2009-10)
• 3.37 million (2010-11) (Decrease)

Month: Current Affairs - May, 2012