On an aggregate basis, India’s direct tax collection in the current fiscal year ended December 17, 2024 stood at Rs 19,21,508 crore, up 20.32 percent over the same period last year.
Taxes include corporate tax, non-corporate tax, securities transaction tax, and other taxes.
India’s net direct tax collection rose 16.45 percent year-on-year to Rs 15,82,584 crore so far in the current fiscal year 2024-25, according to the latest Income Tax Department data released on Wednesday. is Advance tax collection increased by 21% to Rs 7.56 lakh crore during this period.
On an aggregate basis, India’s direct tax collection in the current fiscal year ended December 17, 2024 stood at Rs 19,21,508 crore, up 20.32 percent over the same period last year.
These include corporate tax, non-corporate tax, securities transaction tax, and other taxes such as fringe benefit tax, wealth tax, banking cash transaction tax, hotel receipt tax, interest tax, expenditure tax, estate duty and gift tax.
This collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1 and December 17 of the current financial year.
Refunds worth Rs 3.39 lakh crore were issued during the period, a year-on-year growth of 42.49 per cent.