Gross tax collections up 24% on year

The Indian governments gross direct tax collections for the fiscal year 2024-25 saw a surge of 24% year-on-year to Rs.8.13 lakh crore, according to data released by the Central Board of Direct Taxes (CBDT). Net direct tax collections also saw a 22.5% rise to Rs.6.92 lakh crore, up from Rs.5.65 lakh crore in the previous year. Additionally, tax refunds surged by 33.5%, totaling Rs.1.2 lakh crore as compared to Rs.90,028 crore during the same period last year.

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