News Brief
India's Direct Tax Revenue On The Rise: Net Collection Up Nearly 20 Per Cent To Rs 5.74 Lakh Crore In FY25 Till 11 July
Tax collections (Representative Image)
India's net direct tax collection saw a growth of 19.54 per cent in FY25, reaching Rs 5.74 lakh crore as of 11 July, according to data released by the Income Tax department on Friday (12 July).
The previous year's net direct tax collection during the same period was Rs 4.80 lakh crore.
The total refunds issued in FY 2024-25 amounted to Rs 70,902 cror, a surge of 64.49 per cent compared to Rs 43,105 crore in FY24.
The total gross direct tax collection also increased by 23.24 per cent in FY25, reaching Rs 6,45,259 crore, up from Rs 5,23,563 crore during the same period in FY24.
Corporate tax collection saw a growth of 20.44 per cent, amounting to Rs 2,65,336 crore in 2024-25, compared to Rs 2,20,297 crore in the previous year.
Personal income tax collections also increased, reaching Rs 3,61,862 crore, up by 22.76 per cent from Rs 2,94,764 crore during the same period in FY 2023-24.
Additionally, securities tax in the current financial year doubled, rising to Rs 16,634 crore from Rs 7,285 crore during the FY24 period.
