Net direct tax kitty up 15% to `17.78 lakh crore so far in FY25

New Delhi: Net direct tax collection grew 14.69 per cent to over Rs 17.78 lakh crore so far in FY25, government data showed on Tuesday.

As per the data released by the CBDT, mop up from net non-corporate taxes, which include mainly personal income tax, grew 21 per cent year-on-year to about Rs 9.48 lakh crore.

Net corporate tax collection rose over 6 per cent to over Rs 7.78 lakh crore between April 1, 2024, and February 10, 2025.

Net collections from securities transaction tax (STT) jumped 65 per cent to Rs 49,201 crore so far in FY25. Refunds worth over Rs 4.10 lakh crore were issued during the period, a 42.63 per cent increase against the year-ago period.

Gross direct tax mop up till February 10 grew 19.06 per cent to over Rs 21.88 lakh crore. In the revised estimates (RE) for FY25, the income tax collections are pegged at Rs 12.57 lakh crore, up from the budget estimate (BE) of Rs 11.87 lakh crore.

The collection from STT is pegged at Rs 55,000 crore in FY25 in RE, higher than the BE of Rs 37,000 crore.

Corporate tax collection target was revised lower at Rs 9.80 lakh crore, down from the budget target of Rs 10.20 lakh crore.

In total, the RE pegs direct tax collections at Rs 22.37 lakh crore, higher from Rs 22.07 lakh crore in BE.