Gross Direct Tax Collections For FY 2024-25 Surge By 22.19%

Gross and net direct tax collection witnessed robust growth in the current financial year in comparison to corresponding period of previous financial year 2023-24. Gross Direct Tax collections till 17th of June in this financial year, registered a growth of 22.19 percent while net tax collection witnessed a growth of around 21 percent over the collection of financial year 2023-24.

According to the Finance Ministry, the provisional figures of gross collection of Direct Taxes for the current financial year till 17th of June stand at over 5.15 lakh crore rupees compared to over 4.22 lakh crore rupees in the corresponding



period of the preceding financial year. The net tax collection stands at over 4.62 lakh crore rupees, compared to over 3.82 lakh crore rupees in the corresponding period of the preceding Financial Year. 

Advance Tax collection in the current financial year stands at over 1.48 lakh crore rupees with a growth of 27.34 percent. The Finance Ministry said, refunds amounting to 53,322 crore rupees have also been issued till 17th of June in the current financial year, which are 33.70 percent higher than refunds issued during the same period in the preceding year.