Net direct tax collection grew 14.69 per cent to over Rs 17.78 lakh crore so far this fiscal, government data showed on Tuesday. As per the data released by the Central Board of Direct Taxes (CBDT), mop up from net non-corporate taxes, which include mainly personal income tax, grew 21 per cent year-on-year to about Rs 9.48 lakh crore.
Net corporate tax collection rose more than 6 per cent to over Rs 7.78 lakh crore between April 1, 2024, and February 10, 2025. Net collections from securities transaction tax (STT) jumped 65 per cent to Rs 49,201 crore so far this fiscal.
Refunds worth more than Rs 4.10 lakh crore were issued during the period, a 42.63 per cent increase against the year-ago period. Gross direct tax mop up till February 10 grew 19.06 per cent to more than Rs 21.88 lakh crore.
In the revised estimates (RE) for the current fiscal, the government has pegged income tax collections at Rs 12.57 lakh crore, up from the budget estimate of Rs 11.87 lakh crore. The collection from STT is pegged at Rs 55,000 crore in this fiscal in RE, higher than the budget estimate (BE) of Rs 37,000 crore.
Corporate tax collection target was revised lower at Rs 9.80 lakh crore, down from the budget target of Rs 10.20 lakh crore. In total, the RE pegs direct tax collections at Rs 22.37 lakh crore, higher from Rs 22.07 lakh crore in BE.
Net corporate tax collection rose more than 6 per cent to over Rs 7.78 lakh crore between April 1, 2024, and February 10, 2025. Net collections from securities transaction tax (STT) jumped 65 per cent to Rs 49,201 crore so far this fiscal. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
