Direct Tax Collection For Fy2025 Fiscal Hits Target With 17% Growth

India's nonstop taxation collections for nan fiscal twelvemonth 2024-25 person met and exceeded their targets, according to nan Finance Ministry's latest reports. The provisional nett nonstop taxation collections reached Rs 11,82,875 crore, representing a 17% summation complete nan erstwhile fiscal year. The taxation buoyancy factor, an parameter of nan maturation complaint of nonstop taxes comparative to GDP growth, stood astatine 1.57, up from 1.54 successful nan 2023-24 fiscal year. Officials noted that these figures are provisional, pinch last reconciliations and adjustments yet to beryllium completed, but nan existent capacity is promising for nan country's fiscal health. 

The provisional taxation collections person deed 100.78% of nan target group successful nan July budget, which was Rs 22.07 lakh crore, and 99.51% of nan revised estimate presented successful February, targeting Rs 22.37 lakh crore. This accomplishment comes alongside a important summation successful taxation refunds issued, which reached Rs 4,76,743 crore, marking an summation of 26.04% compared to Rs 3,78,255 crore during 2023-24. This indicates a robust taxation management and businesslike processing of refunds, providing liquidity backmost to taxpayers. 

Total Gross Collection roseate by 15.59% year-on-year, while Net Direct Tax Collection accrued by 13.57%, contempt a important 26.04% emergence successful refunds. Securities Transaction Tax (STT) saw a crisp jump of 55.91%, indicating higher trading activity successful nan financial markets. Non-Corporate Tax outpaced Corporate Tax growth, rising 17.58%, which whitethorn bespeak stronger individual and business income during nan year. In contrast, collections nether Other Taxes declined by 17.25%, pulling down that segment’s wide contribution.

Direct Tax Collections (₹ successful crore)

In nan firm taxation sector, nan gross postulation figures roseate to Rs 12,72,516 crore, reflecting a maturation of 12.41% complete nan anterior year. Meanwhile, nett firm taxation collections were reported astatine Rs 9,86,719 crore, increasing by 8.30% from nan erstwhile fiscal period. These figures underscore nan resilience of firm entities successful India and their publication to nan fiscal framework, contempt economical challenges. Non-corporate taxation collections besides performed well, contributing importantly to nan wide taxation gross increase.

In position of non-corporate taxes, nan nett provisional postulation for nan fiscal twelvemonth 2024-25 amounted to Rs 11,82,875 crore, showing a 17% summation from nan erstwhile year. The taxation buoyancy ratio, measuring nan narration betwixt nonstop taxes and GDP growth, was recorded astatine 1.57 for nan fiscal twelvemonth 2024-25, up from 1.54 successful nan corresponding play of 2023-24.
 

Published on: Apr 25, 2025 9:37 PM IST