Booming Tax Revenues: A New Fiscal Milestone
Net direct tax collection has increased by 14.69% to exceed Rs 17.78 lakh crore in the current fiscal year, according to government data. Personal income tax collections rose by 21%, while corporate tax collections increased by 6%. Gross direct tax mop-up reported significant growth, with expectations surpassing initial budget estimates.
- Country:
- India
In a notable fiscal development, net direct tax collection has surged by 14.69% to over Rs 17.78 lakh crore, as revealed by the latest figures from the Central Board of Direct Taxes (CBDT).
The data highlights a 21% year-on-year growth in personal income tax collections, amounting to approximately Rs 9.48 lakh crore, while corporate tax collections registered a 6% increase, reaching over Rs 7.78 lakh crore between April 1, 2024, and February 10, 2025.
Additionally, securities transaction tax (STT) collections experienced a substantial leap of 65%, totaling Rs 49,201 crore this fiscal year.
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