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FY25 Direct Taxes Surge But Miss Target Slightly Due To Refunds
Hindustan Times Haryana
|April 26, 2025
India's net direct tax income for financial year 2024-25 recorded a 13.57% year-on-year growth to over ₹22.26 lakh crore, marginally missing the target of ₹22.37 lakh crore set in the revised estimate (RE) for financial year 2025 due to a 26% jump in refunds.
NEW DELHI:
However, the net collection of ₹22,26,231 crore in the financial year ended March 31 was higher than the original budget estimate (BE) for FY25 of ₹22,07,000 crore, according to provisional data released by the Central Board of Direct Taxes (CBDT) on Friday.
The net collection missed the revised estimate target by ₹10,769 crore as refunds jumped over 26% to ₹4,76,743 crore in FY25 as compared to ₹3,78,255 crore in FY24.
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