Net Direct Tax Collection Up 22.5% to Rs 6.93 Trillion
India’s net direct tax collection surged by 22.5% to Rs 6.93 trillion from April 1 to August 11, FY25, compared to Rs 5.65 trillion in the same period last year. Personal income-tax (PIT) growth outpaced corporation tax, with gross collections rising by nearly 24% before refunds.
Current Collection: Rs 4.47 trillion
Previous Year’s Collection: Rs 3.44 trillion
Details: PIT growth significantly exceeded corporation tax, contributing substantially to the total tax revenue. The securities transaction tax, a part of PIT, rose to Rs 21,599 crore from Rs 10,234 crore, attributed to changes in tax rates and increased stock-market trading.
Current Collection: Rs 2.2 trillion
Growth Rate: 5.7%
Target Growth Rate: 12%
Details: The growth rate of corporation tax was lower than the targeted 12% for the financial year.
Direct Tax Refunds: Rs 1.20 trillion (up 33.49% from Rs 90,028 crore in FY24)
Gross Collection (before refunds): Rs 8.13 trillion (up 23.99% from the previous financial year)
Gross Tax Revenue for FY25: Rs 38.40 trillion
Direct Taxes Target: Rs 22.07 trillion
Indirect Taxes Target: Rs 16.33 trillion
FY24 Net Direct Tax Collection: Rs 19.58 trillion (17.1% increase from FY23)
FY23 Net Direct Tax Collection: Rs 16.64 trillion
FY22 Net Direct Tax Collection: Rs 14.08 trillion
Lucknow, which serves as the capital of Uttar Pradesh, is popularly considered as the "City…
The Ministry of Statistics and Programme Implementation (MoSPI) has introduced the India's first trial version…
In the ongoing fiscal year, India’s tax revenues have performed significantly, with the net direct…
The FIFA World Cup 2026 semifinal clashes are starting and this stage creates excitement from…
National News Bharat Tex 2026 Showcases India’s Global Textile Industry Ambitions India will host Bharat…
The central government set to strengthen the local self-government in Ladakh has received positive response…