Image for representative purposes
| Photo Credit: Getty Images/iStockphoto

Growth in India’s net direct tax collections slowed down marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17, with gross tax receipts also tapering slightly from 20.3% a month ago to 19.94%.

Data shared by the Central Board of Direct Taxes on Monday (January 13, 2025) showed gross tax receipts stood at ₹20.64 lakh crore, with corporate taxes accounting for 47.07% of the receipts and non-corporate taxes yielding over 50.6% of the collections.

As per the data, mop-up from net non-corporate taxes, which include mainly personal income tax, stood at over ₹8.74 lakh crore.

The net corporate tax collection between April 1, 2024, and January 12, 2025, was around Rs 7.68 lakh crore.

Net collections from securities transaction tax (STT) stood at ₹44,538 crore so far this fiscal. Refunds worth over ₹3.74 lakh crore were issued during the period, a 42.49 per cent increase over the year-ago period.

The government has budgeted to collect ₹22.07 lakh crore in the current fiscal from direct taxes. This includes Corporate tax collection of ₹10.20 lakh crore, personal income tax and other taxes of Rs 11.87 lakh crore.

(With inputs from PTI)

Growth in India’s net direct tax collections slowed down marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17. Image for representative purposes only
| Photo Credit: Getty Images/iStockphoto

Growth in India’s net direct tax collections slowed down marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17, with gross tax receipts also tapering slightly from 20.3% a month ago to 19.94%.

Data shared by the Central Board of Direct Taxes on Monday (January 13, 2025) showed gross tax receipts stood at ₹20.64 lakh crore, with corporate taxes accounting for 47.07% of the receipts and non-corporate taxes yielding over 50.6% of the collections.

As per the data, mop-up from net non-corporate taxes, which include mainly personal income tax, stood at over ₹8.74 lakh crore.

The net corporate tax collection between April 1, 2024, and January 12, 2025, was around Rs 7.68 lakh crore.

Net collections from securities transaction tax (STT) stood at ₹44,538 crore so far this fiscal. Refunds worth over ₹3.74 lakh crore were issued during the period, a 42.49 per cent increase over the year-ago period.

The government has budgeted to collect ₹22.07 lakh crore in the current fiscal from direct taxes. This includes Corporate tax collection of ₹10.20 lakh crore, personal income tax and other taxes of Rs 11.87 lakh crore.

(With inputs from PTI)