Net Direct Tax Collections for FY 2024-25 Surge by 18.35% as of 10th October

As of October 10, 2024, India’s net direct tax collections for the fiscal year 2024-25 have surged by 18.35%, amounting to Rs. 11.25 lakh crore. This increase is attributed to higher corporate tax collections, which reached Rs. 7.13 lakh crore, and personal income tax collections, including the Securities Transaction Tax, which totaled Rs. 5.98 lakh crore. The government has also issued refunds amounting to Rs. 2.31 lakh crore during this period. The significant growth in tax collections reflects the robust economic activity and improved compliance.