Discover The Impressive Tax Collection Figures In India For FY 24-25 And What It Means For The Economy | Paisa Live

India's tax collection for FY 2024-25 has shown remarkable growth, indicating a robust financial performance. As of October 10, 2024, the net direct tax collection, after adjusting for refunds, reached approximately ₹11.25 lakh crore, marking an 18.3% increase compared to ₹9.51 lakh crore during the same period last year. The gross direct tax collection rose by 22.3% to around ₹13.57 lakh crore. This includes ₹5.98 lakh crore from personal taxes and ₹4.94 lakh crore from corporate taxes. Refunds issued stood at ₹2.31 lakh crore, accounting for a significant 49% of the total. Additionally, the Securities Transaction Tax (STT) collection was around ₹3,630 crore. With these impressive figures, the future of India's tax collection appears promising.