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Personal income tax collection overtakes corporate tax: Report
The Daily Guardian
|August 28, 2025
Personal income tax collections have surpassed corporate taxes for the first time in India's history, signalling a structural shift in the country's direct tax architecture driven by formalisation, digitisation and stronger compliance, according to a report by JM Financial Institutional Securities.
The share of personal income tax in total direct taxes rose sharply from 38.1 per cent in FY14 to 53.4 per cent in FY24, while corporate taxes declined from 61.9 per cent to 46.6 per cent over the same period.
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