Direct Tax Collection: India’s direct tax assortment has seen an amazing increase. Till December 17 of the monetary 12 months 2024-25, the nation’s direct tax assortment has elevated by 16.45 percent to greater than Rs 15.82 lakh crore. In the identical interval of the earlier monetary 12 months, direct tax assortment stood at Rs 13.49 lakh crore.
CBDT launched tax assortment knowledge
Central Board of Direct Taxes (CBDT) has launched this knowledge. CBDT has mentioned that the online direct tax assortment of Rs 15.82 lakh crore consists of company tax of Rs 7.42 lakh crore. Non-corporate tax of Rs 7.97 lakh crore can also be included in this and tax of Rs 40,114 crore is included in the shape of Securities Transaction Tax (STT).
Direct tax refund of Rs 3.38 lakh crore issued
The Central Government has issued direct tax refund of Rs 3.38 lakh crore until December 17, 2024. If we have a look at this in comparability to the identical date of the monetary 12 months 2023-24 i.e. until December 17, 2024, it exhibits an increase of 42.49 percent. As of the identical date a 12 months in the past, this tax refund was Rs 2.37 lakh crore.
Good increase in advance tax assortment additionally
If we have a look at the whole advance tax assortment of the nation, an increase of 20.90 percent is seen together with company tax and non-corporate tax and it has reached Rs 7.56 lakh crore. This is in response to the information until the identical date of the final monetary 12 months i.e. 17 December 2023.
If we have a look at these figures, non-corporate tax has achieved an increase of 35 percent in advance tax. In comparability, company tax has achieved development of solely 16.71 percent.
What was the direct tax assortment in gross figures?
If we have a look at the gross figures, earlier than adjusting the refund, the direct tax assortment stood at Rs 19.21 lakh crore. This knowledge is until December 17 of the monetary 12 months 2025 and if in comparison with a 12 months in the past, it exhibits a leap of 20.32 percent. The increase in tax assortment will show useful in reaching the set goal of monetary deficit of the federal government.
learn this additionally
Union Budget 2025: If the finances day falls on Saturday, can Indian inventory markets stay open – know the information
