New Delhi, Jan 13: India's gross direct tax collection has seen an impressive year-on-year (YoY) growth of 19.94%, reaching Rs 20.64 lakh crore as of January 12, 2025.
This marks a substantial rise from Rs 17.21 lakh crore collected during the same period in the previous fiscal year, as reported by the Central Board of Direct Taxes (CBDT). Of the total collection, corporate tax (CT) contributed Rs 9.72 lakh crore, while non-corporate tax (NCT) stood at Rs 10.45 lakh crore.
Securities Transaction Tax (STT) collections surged to Rs 44,538 crore, and other taxes added Rs 2,868 crore. These strong figures reflect healthy growth across major tax categories, supported by increased compliance and economic activity. Refunds issued during this period amounted to Rs 3.74 lakh crore, a 42.49% rise compared to Rs 2.62 lakh crore in the same period last year.
After accounting for these refunds, the net direct tax collection stood at Rs 16.89 lakh crore, showing a YoY increase of 15.88% from Rs 14.58 lakh crore in FY 2023-24.
A detailed comparison with the previous year reveals that corporate tax collections grew from Rs 8.33 lakh crore to Rs 9.72 lakh crore, while non-corporate tax collections rose from Rs 8.59 lakh crore to Rs 10.45 lakh crore. STT collections nearly doubled, reflecting heightened activity in the securities market, although other tax categories showed a slight decline.
