• India’s income and corporate taxes fall for first time in 20 years: Reports

    India’s income and corporate taxes fall for first time in 20 years: Reports

    Published Date : 05-Apr-2020 10:15:53 IST

    India’s corporate and income tax collection in 2019-20 fell 8% from the previous fiscal to ₹10.27 lakh crore amid a slowdown and cut in corporate tax rates, according to reports. This is the first fall in direct tax collection in 20 years. This represents a shortfall of ₹1.42 lakh crore from the government’s revised target of ₹11.7 lakh crore.

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