Sponsored
    Follow Us:
Sponsored

As of March 16, 2025, India’s direct tax collections for the financial year 2024-25 recorded significant growth compared to the previous year. Gross collections increased by 16.15%, totaling ₹25.87 lakh crore, driven by rises in corporate tax, non-corporate tax, and securities transaction tax (STT). Corporate tax collections grew from ₹10.98 lakh crore to ₹12.40 lakh crore, while non-corporate taxes rose from ₹10.91 lakh crore to ₹12.90 lakh crore. STT collections also surged from ₹34,131 crore to ₹53,095 crore. However, refunds issued grew by 32.51%, amounting to ₹4.60 lakh crore, affecting net collections. Net collections rose by 13.13% to ₹21.27 lakh crore compared to ₹18.80 lakh crore in the previous year.

Advance tax collections demonstrated healthy growth, increasing by 14.62% to ₹10.44 lakh crore. Corporate advance tax rose by 12.54% to ₹7.57 lakh crore, and non-corporate advance tax grew by 20.47% to ₹2.87 lakh crore. The data reflects robust tax compliance and economic activity across sectors. These figures underscore steady progress in direct tax collections, driven by higher corporate and non-corporate tax contributions.

Direct Tax Collections for F.Y. 2024-25 as on 16.03.2025

(Rs. In Crore)

FY 2023-24 (as on 16.03.2024)
FY 2024-25 (as on 16.03.2025)
Percentage growth
Corporate Tax (CT)
Non*-
Corporate
Tax (NCT)
Securities
Transaction
Tax (STT)
Other taxes (OT)
Total
Corporate Tax (CT)
Non*-
Corporate
Tax (NCT)
Securities
Transaction
Tax (STT)
Other
taxes
(OT)
Total
Total
Growth
Gross Collection
10,98,299
10,91,129
34,131
3,656
22,27,214
12,40,308
12,90,144
53,095
3,399
25,86,947
16.15%
Refunds
1,93,510
1,53,559
90
3,47,159
2,71,224
1,88,740
60
4,60,024
32.51%
Net Collection
9,04,789
9,37,571
34,131
3,566
18,80,055
9,69,085
11,01,404
53,095
3,340
21,26,923
13.13%

Source: TINMIS

* NCT includes taxes paid by individuals, HUFs, Firms, AoPs, BoIs, Local Authorities, Artificial Juridical Person

Advance Tax Collections for F.Y. 2024-25 as on 16.03.2025

(Rs. In Crore)

FY 2023-24 (as on 16.03.2024)
FY 2024-25 (as on 16.03.2025)
Percentage Growth
Corporate Tax
Non*-
Corporate
Tax (NCT)
Total
Corporate Tax
Non*-
Corporate
Tax (NCT)
Total
Corporate
Tax
Non*-
Corporate
Tax (NCT)
Total Growth
Advance Tax
6,72,903
2,38,578
9,11,482
7,57,282
2,87,417
10,44,700
12.54%
20.47%
14.62%

Source: TINMIS

* NCT includes taxes paid by individuals, HUFs, Firms, AoPs, BoIs, Local Authorities, Artificial Juridical Person

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
March 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31