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*-
|
Securities
|
Other taxes (OT) |
Total |
Corporate Tax (CT) |
Non*-
|
Securities
|
Other
|
Total |
Total
|
|
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*-
|
Total |
Corporate Tax |
Non*-
|
Total |
CorporateTax |
Non*-
|
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
