Quick Summary
India's net direct tax collections for the financial year 2024-25 have seen significant growth, reaching ₹11.25 lakh crore by October 10, 2024, marking an 18.35% increase compared to the previous year. The gross collections, which include Corporate Tax, Personal Income Tax, and Securities Transaction Tax, stand at ₹13.57 lakh crore, reflecting a 22.30% rise. Corporate Tax collections surged to ₹7.13 lakh crore, while Personal Income Tax, including the Securities Transaction Tax, reached ₹5.98
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FAQ :
As of October 10, 2024, India's net direct tax collections for FY 2024-25 reached ₹11.25 lakh crore.
Net direct tax collections have increased by 18.35% compared to the previous financial year.
The gross collections include Corporate Tax, Personal Income Tax, and Securities Transaction Tax.
Corporate Tax collections surged to ₹7.13 lakh crore.
Refunds issued totalled ₹2.31 lakh crore, a 46.03% increase from the previous financial year.
The growth is expected to contribute positively to India's fiscal health and support infrastructure development and welfare programs.
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