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Personal income tax collections led the surge, growing 21% to approximately ₹9.48 lakh crore. Meanwhile, net corporate tax revenue increased by more than 6% to over ₹7.78 lakh crore in the period between April 1, 2024, and February 10, 2025.
Revenue from the securities transaction tax (STT) witnessed a sharp 65% jump, reaching ₹49,201 crore so far this fiscal.
Refunds issued during the period exceeded ₹4.10 lakh crore, marking a significant 42.63% increase from the previous year. Despite this, gross direct tax collections grew 19.06% to more than ₹21.88 lakh crore as of February 10.
Revised tax targets
The government has revised its direct tax collection estimates in the current fiscal. Income tax revenue is now pegged at ₹12.57 lakh crore, up from the budget estimate (BE) of ₹11.87 lakh crore.
STT collections are projected to touch ₹55,000 crore, exceeding the initial target of ₹37,000 crore.
However, the corporate tax collection target has been revised downward to ₹9.80 lakh crore from the earlier estimate of ₹10.20 lakh crore.
Overall, the revised estimate (RE) places direct tax collections at ₹22.37 lakh crore, slightly higher than the budgeted ₹22.07 lakh crore.
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