Tax Mop-up
Govt's Apr 1-Feb 10 net direct tax collection INR 17.78 tln, up 14.7% on year
This story was originally published at 20:08 IST on 11 February 2025
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--Govt: Apr 1-Feb 10 STT collection INR 492.01 bln
--Govt: Apr 1-Feb 10 net corporate tax collection INR 7.78 tln
--Govt: Apr 1-Feb 10 net direct tax collection INR 17.78 tln, up 14.7%
--Govt: Apr 1-Feb 10 gross direct tax collection INR 21.89 tln, up 19.1%
NEW DELHI – The Centre's direct tax collection, net of refunds, rose 14.7% on year to INR 17.784 trillion during the period from Apr. 1 to Feb. 10, the finance ministry said Tuesday. Of the total, corporate tax collections grew 6.1% on year to INR 7.785 trillion and non-corporate tax collections rose 20.9% to INR 9.477 trillion, the ministry said.
Non-corporate tax includes taxes paid by individuals, Hindu Undivided Families, firms, associations of persons, bodies of individuals, local authorities, and artificial juridical persons.
The gross direct collections during the period rose 19.1% on year to INR 21.885 trillion. The government issued tax refunds worth INR 4.101 trillion during Apr. 1-Feb. 10, up 42.6% from a year ago, the ministry said.
The Budget for 2025-26 (Apr-Mar) has revised the estimate for total tax collections in the current financial year to INR 38.535 trillion from INR 38.402 trillion earlier. Of the revised target, the government aims to collect INR 9.800 trillion as corporation tax and INR 12.570 trillion as personal income tax.
Net securities transaction tax collections during Apr. 1-Feb. 10 was INR 492.01 billion, up 65.1% from INR 298.08 billion collected in the corresponding period a year ago. End
Reported by Krity Ambey
Edited by Saji George Titus
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