The Central Board of Direct Taxes (CBDT) in its latest data
has showed that net direct tax collection grew 14.69 per cent to over Rs 17.78
lakh crore so far this fiscal (April 1, 2024, and February 10, 2025). Gross
direct tax mop up till February 10 grew 19.06 per cent to more than Rs 21.88
lakh crore.
As per the data released by 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. 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.
Source: Ace Equity
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