India’s direct tax collections for FY 2024-25, as of January 12, 2025, witnessed a 19.94% increase in gross collections compared to the same period in FY 2023-24. Gross collections reached ₹20.64 lakh crore, comprising ₹9.71 lakh crore from corporate taxes, ₹10.45 lakh crore from non-corporate taxes, ₹44,538 crore from securities transaction tax (STT), and ₹2,868 crore from other taxes. Refunds issued during this period amounted to ₹3.74 lakh crore, a significant rise of 42.49% from the previous year. Consequently, net tax collections stood at ₹16.89 lakh crore, reflecting a 15.88% growth over FY 2023-24. The increase in non-corporate tax collection and STT played a pivotal role in the overall rise in direct tax revenue. The figures underline a robust tax compliance environment and improved tax administration.
Direct Tax Collections for F.Y. 2024-25 as on 12.01.2025
(Rs. In Crore)
FY 2023-24 (as on 12.01.2024) |
FY 2024-25 (as on 12.01.2025) |
Percentage growth |
|||||||||
Corporate Tax (CT) |
Non*-
|
Securities
|
Other
|
Total |
Corporate
|
Non*-
|
Securities
|
Other taxes’(OT) |
Total |
Total
|
|
Gross Collection |
8,33,874 |
8,58,627 |
25,415 |
3,252 |
17,21,168 |
9,71,875 |
10,45,088 |
44,538 |
2,868 |
20,64,369 |
19.94% |
Refunds |
1,23,454 |
1,39,269 |
– |
66 |
2,62,789 |
2,03,746 |
1,70,646 |
– |
49 |
3,74,441 |
42.49% |
Net ollection |
7,10,419 |
7,19,358 |
25,415 |
3,187 |
14,58,379 |
7,68,128 |
8,74,442 |
44,538 |
2,819 |
16,89,928 |
15.88% |
Source: TINMIS
* NCT includes taxes paid by individuals, HUFs, Firms, AoPs, BoIs, Local Authorities, Artificial Juridical Person
^‘Other Taxes’ include Equalization Levy, Fringe Benefit Tax, Wealth Tax, Banking Cash Transaction Tax , Hotel Receipt Tax, Interest Tax, Expenditure Tax,
Estate Duty and Gift Tax
