Quick Summary
As of January 12, 2025, India's direct tax collections have shown remarkable growth compared to the same period in FY 2023-24. According to the latest data, net direct tax collections, after refunds, have increased by 15.88%, reaching ₹16,89,928 crore. Key Highlights Gross Collections: Gross direct tax collections surged to ₹20,64,369 crore, reflecting a 19.94% growth over last years ₹17,21,168 crore. Significant contributors included corporate tax (₹10,45,088 crore) and non-corporate ta
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FAQ :
As of January 12, 2025, the net direct tax collections for FY 2024-25 have reached ₹16,89,928 crore.
Net direct tax collections have increased by 15.88% compared to the same period in FY 2023-24.
Gross direct tax collections surged to ₹20,64,369 crore, marking a 19.94% growth.
Corporate tax was a significant contributor, with collections of ₹10,45,088 crore, followed by non-corporate tax at ₹9,71,875 crore.
Refunds issued rose by 42.49% to ₹3,74,441 crore in FY 2024-25.
The growth is driven by the government's focus on tax compliance, digital reforms, streamlined taxpayer services, expanded tax base, corporate tax reforms, and buoyant economic activity.
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