Direct tax collection for 2024-25 fiscal narrowly achieved ...

Government Achieves Direct Tax Collection Target, Hits Rs 22.26 Lakh Crore with Record Refunds and Steady Growth

April 26, 2025

News Indian Laws

Direct tax collection for 2024-25 fiscal narrowly achieved target, reaching Rs 22.26 lakh crore with 13.57% growth. Despite issuing record refunds of Rs 4,76,743 crore (26.04% increase), net collections were 100.78% of initial budget target. Corporate tax net collection grew 8.30% to Rs 9,86,719 crore, while non-corporate tax net collection increased 17% to Rs 11,82,875 crore. Tax buoyancy factor improved marginally from 1.54 to 1.57, indicating stable revenue performance relative to GDP growth. Provisional figures suggest potential minor adjustments may occur during final reconciliation.

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Direct tax collection for 2024-25 fiscal narrowly achieved ...

Government Achieves Direct Tax Collection Target, Hits Rs 22.26 Lakh Crore with Record Refunds and Steady Growth

April 26, 2025

News Indian Laws

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