Direct tax surge: ₹21.26 lakh crore collected in FY25 as personal taxes outpace corporate growth

Net direct tax collection in FY25 as of March 16 has surged 13.13% to ₹21.26 lakh crore compared with ₹18.80 lakh crore during the same period in FY24, according to the government data.

The net corporate tax collection in FY25 stood at ₹9.69 lakh crore, compared with ₹9.04 lakh crore in FY24, while the non-corporate tax -- which includes personal income tax and taxes paid by the HUFs, firms, and local authorities, among others -- has grown to ₹11.01 lakh crore in FY25 compared with ₹9.37 lakh crore.

Securities transaction tax collection in FY25 has grown 56% to ₹53,095 crore in FY25 compared with ₹34,131 crore in FY24. Advance tax collection in FY25 has grown 14.62% to ₹10.44 lakh crore, compared with ₹9.11 lakh crore in FY24.

“The revised collection continues to show a healthy uptick in personal and Securities Transaction Tax (STT). While the estimate for corporation tax was revised downwards from ₹10.2 lakh crore to ₹9.8 lakh crore, the overall non-corporate estimate was revised upwards from ₹11.87 lakh crore to ₹12.57 lakh crore. This trend shows an increasing reliance and growth on personal taxes as opposed to corporate income tax,” said Rohinton Sidhwa, partner, Deloitte India.

Advance tax collection on the corporate side witnessed a 12.54% growth to ₹7,57,282 crore in FY25, compared with ₹6,72,903 crore in FY24, while the non-corporate advance tax stood at ₹2,87,417 crore, up 20% from ₹2,38,578 crore in FY24.