Government Achieves Direct Tax Collection Target, Hits Rs 22.26 Lakh Crore with Record Refunds and Steady Growth

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Direct tax collection for 2024-25 fiscal narrowly achieved target, reaching Rs 22.26 lakh crore with 13.57% growth. Despite issuing record refunds of Rs 4,76,743 crore (26.04% increase), net collections were 100.78% of initial budget target. Corporate tax net collection grew 8.30% to Rs 9,86,719 crore, while non-corporate tax net collection increased 17% to Rs 11,82,875 crore. Tax buoyancy factor improved marginally from 1.54 to 1.57, indicating stable revenue performance relative to GDP growth. Provisional figures suggest potential minor adjustments may occur during final reconciliation.....