Tax Collection
Govt's Apr 1-Mar 16 net direct tax collection at INR 21.27 tln, up 13.1% YoY
This story was originally published at 16:55 IST on 17 March 2025
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--Govt: Apr 1-Mar 16 direct tax collection INR 25.87 tln, up 16.2% on year
--Govt: Apr 1-Mar 16 net direct tax collection INR 21.27 tln, up 13.1% YoY
--Govt: Apr 1-Mar 16 gross corporate tax mop-up INR 12.40 tln vs 10.98 tln
--Govt: Apr 1-Mar 16 net corporate tax mop-up INR 9.69 tln vs 9.05 tln
--Govt: Apr 1-Mar 16 net STT mop-up INR 530.95 bln vs 341.31 bln
NEW DELHI – The Indian government's net direct tax collections for Apr. 1-Mar. 16 were up 13.1% year-on-year at INR 21.269 trillion, the finance ministry said Monday. While corporate tax collections were 7.1% higher at INR 9.691 trillion, non-corporate tax collections were up 17.5% at INR 11.014 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 Securities Transaction Tax mop-up, meanwhile, was 55.6% higher at INR 530.95 billion. The revised estimate for Securities Transaction Tax to be collected in 2024-25 (Apr-Mar) is INR 550.00 billion. Like the Securities Transaction Tax target, the central government is close to meeting its corporate tax collection target of INR 9.800 trillion.
Without netting for refunds--which stood at INR 4.600 trillion in Apr. 1-Mar. 16, up 32.5% on year--the Centre's gross direct tax collections during the same period were 16.2% higher at INR 25.869 trillion. The revised estimate for gross tax collections, which include both direct and indirect taxes, in FY25 is INR 38.535 trillion. End
Reported by Siddharth Upasani
Edited by Akul Nishant Akhoury
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