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Personal income taxes help direct tax collections rise 16% to ₹16.9L cr
The New Indian Express Kochi
|January 14, 2025
NET direct tax collection in FY25 (till 12 January 2025) increased by 16% to ₹16.9 lakh crore, driven mainly by strong personal income tax (PIT) collection.
Personal income tax collections during the period surged 21.6% to ₹8.74 lakh crore compared to ₹7.2 lakh crore. Corporate tax collection has grown at 8.12% to ₹7.7 lakh crore during the period compared to ₹7.10 lakh crore.
The other component of direct taxes - Securities Transaction Tax (STT) - grew by a whopping 75% to ₹44,500 crore during the said period compared to ₹25,415 crore a year ago period. Refunds during the period increased by 42.5% to ₹3.74 lakh crore.
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