Direct Tax Mop Up for 2024-25 Fiscal Misses Target Owing to Higher Refunds

Direct Tax Mop Up for 2024-25 Fiscal Misses Target Owing to Higher Refunds

Get latest articles and stories on India at LatestLY. The net direct tax collection for the 2024-25 financial year narrowly missed the target of Rs 22.37 crore, even as it grew 13.57 per cent to over Rs 22.26 lakh crore, due to issuance of the highest-ever amount of refunds, official data said on Friday. India News | Direct Tax Mop Up for 2024-25 Fiscal Misses Target Owing to Higher Refunds.

India's direct tax collections surge 15.6% to Rs 27 lakh crore in 2024-25 - ChiniMandi

New Delhi : India’s direct tax collections, in gross terms, have witnessed a robust growth of 15.59 per cent year-on-year, reaching Rs 27.02 lakh crore in the financial year 2024-25, data released by the Central Board of Direct Taxes (CBDT) showed. In 2023-24, it was Rs 23.38 lakh crore. This rise in collections is attributed to higher corporate and non-corporate tax revenues, as well as a significant surge in securities transaction tax (STT) re…

Direct tax mop up for FY25 fiscal misses target owing to record refunds

New Delhi: The net direct tax collection for the 2024-25 financial year narrowly missed the target of Rs 22.37 crore, even as it grew 13.57 per cent to over Rs 22.26 lakh crore, due to issuance of the highest-ever amount of refunds, official data said on Friday. The government set a target of Rs 22,07,000 crore for the direct tax administration as per the budget receipt of July 2024. It was revised to Rs 22,37,000 crore during the budget present…

Net Direct Tax collection in FY 24-25 shows 13.57% growth than last year

The Income tax collection has shown a Strong Overall Growth in FY 2024-25. The gross direct tax collection in FY 24-25 has grown by 15.59%, while the net collection has risen by 13.57%, showing healthy revenue expansion. Total Net collection in FY 24-25 was Rs. 22,26,231 and in FY 23-24 was Rs. 19,60,166. Refund Outflows […]