Centre’s net direct tax collection grows 21% so far in FY25

The Central government has so far this year collected Rs.4.62 trillion in direct taxes after adjusting for refunds, marking a 20.99% growth annually, the Central Board of Direct Taxes (CBDT) said recent quoting provisional figures.

This includes corporate taxes of Rs. 1.8 trillion and personal income tax of Rs. 2.81 trillion. The personal income tax figure includes proceeds from securities transaction tax (STT).

The Centre had collected Rs. 3.82 trillion in net direct taxes in the comparable period of the last financial year.

The latest figures include the first instalment of advance tax collections, for which the due date was 15 June.

The government has in the interim budget for FY25 projected a revenue of Rs. 10.4 trillion from corporate tax and a revenue of Rs. 11.56 trillion from personal income tax.