According to the latest data from the Central Board of Direct Taxes (CBDT), India’s direct tax collections have registered a strong 16.15% growth year-on-year, reaching Rs 25.86 lakh crore in the financial year 2024-25 (as of March 16, 2025).
The increase is primarily driven by higher corporate and non-corporate tax revenues, along with a notable surge in securities transaction tax (STT) receipts.
Corporate tax collections climbed to Rs 12.40 lakh crore from Rs 10.1 lakh crore in the previous fiscal, while non-corporate tax revenues jumped to Rs 12.90 lakh crore, compared to Rs 10.91 lakh crore last year.
STT collections saw a significant rise, reaching Rs 53,095 crore, up from Rs 34,131 crore in the previous financial year.
Direct taxes, which include income tax, corporate tax, and STT, paid directly by individuals and businesses to the government.
However, other taxes, including wealth tax, recorded a decline from Rs 3,656 crore to Rs 3,399 crore.
Refunds also saw a sharp increase of 32.51%, amounting to Rs 4.6 lakh crore.
After adjusting for these refunds, the net direct tax collection stood at Rs 21.26 lakh crore, reflecting a 13.13% rise from Rs 18.8 lakh crore in the same period last year.
The steady growth in tax collections strengthens India’s fiscal position by improving government revenue and reducing reliance on borrowings.
Additionally, higher tax inflows may enable increased public spending on infrastructure, social welfare, and other crucial sectors, further supporting economic growth.
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