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India's direct tax collections for the financial year 2024-25 have witnessed a robust year-on-year (YoY) growth of 13.13%, reaching ₹21.26 lakh crore in net collections as of March 16, 2025, according to data from the Tax Information Network Management Information System (TINMIS). Breakdown of Direct Tax Collections Gross Direct Tax Collections rose by 16.15% to ₹25.86 lakh crore from ₹22.27 lakh crore in the previous year. Refunds Issued increased significantly by 32.51%, amounting to ₹4
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FAQ :
As of March 16, 2025, India's net direct tax collections for FY 2024-25 reached ₹21.27 lakh crore.
Direct tax collections saw a year-on-year growth of 13.13%.
Corporate Tax collections increased to ₹9.69 lakh crore from ₹9.04 lakh crore in the previous year.
Refunds issued increased significantly by 32.51%, amounting to ₹4.60 lakh crore.
Both Corporate Advance Tax collections rose 12.54% and Non-Corporate Advance Tax collections surged 20.47%.
The steady growth reflects stronger economic activity, higher corporate profitability, and improved compliance.
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