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Budget documents show the total income tax collected by the central government in the financial year 2023-24 was Rs 10.45 lakh crore, 25 per cent higher from the previous year.
Income tax paid by India's oldest citizens is gradually accounting for a larger share of the central government's total kitty. According to new finance ministry data, those over the age of 70 years paid nearly 6 per cent of the income tax in 2023-24, up from 5.3 per cent in 2019-20.
Responding to a question in the Lok Sabha on August 18, Finance Minister Nirmala Sitharaman said that in the 2024-25 assessment year, the income tax collected from citizens above 70 years of age was Rs 61,624 crore, up 28 per cent from the previous year.
Government must be thankful to the sr citizens . Thanks
Income tax paid by India's oldest citizens is gradually accounting for a larger share of the central government's total kitty. According to new finance ministry data, those over the age of 70 years paid nearly 6 per cent of the income tax in 2023-24, up from 5.3 per cent in 2019-20.
Responding to a question in the Lok Sabha on August 18, Finance Minister Nirmala Sitharaman said that in the 2024-25 assessment year, the income tax collected from citizens above 70 years of age was Rs 61,624 crore, up 28 per cent from the previous year.
Government must be thankful to the sr citizens . Thanks
