On a gross basis, India’s direct tax collections in the current financial year till December 17, 2024, stood at Rs 19,21,508 crore, a 20.32 per cent jump as compared to the corresponding period last year.
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India’s net direct tax collection grew 16.45 per cent year-on-year to Rs 15,82,584 crore so far in the current financial year 2024-25, according to the latest data from the income tax department released on Wednesday. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore.
On a gross basis, India’s direct tax collections in the current financial year till December 17, 2024, stood at Rs 19,21,508 crore, a 20.32 per cent jump as compared to the corresponding period last year.
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These include corporate tax, non-corporate tax, securities transaction tax, and other taxes like fringe benefit tax, wealth tax, banking cash transaction tax, hotel receipt tax, interest tax, expenditure tax, estate duty and gift tax.
The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year.
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Refunds worth Rs 3.39 lakh crore were issued during the period, registering a growth of 42.49 per cent year-on-year.
