Quick Summary
India's direct tax collections for the financial year 2024-25, as of December 17, 2024, have demonstrated robust growth, with gross collections reaching ₹19.22 lakh crore - a remarkable 20.32% increase compared to the same period in FY 2023-24, when collections stood at ₹15.97 lakh crore. Breakdown
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FAQ :
As of December 17, 2024, gross direct tax collections for FY 2024-25 have reached ₹19.22 lakh crore.
Direct tax collections have increased by 20.32% compared to the same period in FY 2023-24.
Advance tax collections surged by 20.90%, climbing from ₹6.25 lakh crore in FY 2023-24 to ₹7.56 lakh crore in the current financial year.
Yes, securities transaction tax collections doubled, rising from ₹21,628 crore to ₹40,114 crore.
Refunds issued increased by 42.49%, but despite this, net direct tax collections still rose by 16.45%.
While corporate taxes continue to be the largest contributor, non-corporate taxes, including those from individuals and HUFs, displayed a more robust growth trajectory.
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