India's Direct Tax Collections Surge 15.6% to ₹27 Lakh Crore in FY 2024-25
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India's direct tax collections have showcased remarkable resilience and strength, growing by 15.59% in the financial year 2024-25 , according to data released by the Central Board of Direct Taxes (CBDT) . The gross direct tax mop-up rose to ₹27.02 lakh crore , up from ₹23.38 lakh crore recorded in FY 2023-24. Key Highlights of the Tax Collections Corporate Tax collections grew from ₹11.31 lakh crore to ₹12.72 lakh crore . Non-Corporate Tax collections surged from ₹11.68 lakh crore to ₹13.73 lakh crore . Securities Transaction Tax (STT) receipts witnessed an impressive jump from ₹34,192 crore to ₹53,296 crore . Wealth tax and other minor direct taxes saw a dip from ₹4,068 crore to ₹3,366 crore . After adjusting for refunds (which increased by 26.04% to ₹4.76 lakh crore ), the net direct tax collections stood at ₹22.26 lakh crore , reflecting a healthy 13.57% growth compared to last year’s ₹19.60 lakh crore. This strong performance indicates a buoyan...