Categories: Income Tax

Direct Tax & Advance Tax collections for FY 2024-25

Page Contents

Toggle

Data on Direct Tax (DT) collections and Advance Tax collections for FY 2024-25 as on 12.01.2025 has been released.

Direct Tax Collections (FY26 up to Sept 17, 2025)

Net Direct Tax Revenue: INR 10.82 lakh crore (+9.18% YoY)
Gross Tax Collection: INR 12.43 lakh crore (+3.39% YoY)
- Corporate Tax: INR 4.72 lakh crore
- Non-Corporate Tax: INR 5.83 lakh crore
- Securities Transaction Tax (STT): INR 26,000 crore
- Other Taxes: INR 291 crore
Refunds:INR 1.60 lakh crore (-23.87% YoY)

Advance Tax (part of gross collections)

Total: INR 4.48 lakh crore (+2.90% YoY)
- Corporate Tax: INR 3.52 lakh crore (+6.11%)
- Non-Corporate Tax: INR 96,700 crore (-7.30%)

Data on Gross Direct Tax collections, Refunds, Net Direct Tax collections & Advance Tax collections for FY 2025-26 as on 17.12.2025 has been released.

Direct Tax Collections

Category	FY 2024-25	FY 2025-26	% Growth
Gross Collection	INR 19,21,941.93	INR 20,01,794.23	4.16%
Refunds	INR 3,43,499.23	IN 2,97,069.42	-13.52%
Net Collection	INR 15,78,442.71	INR 17,04,725.21	8.00%

Breakdown by Tax Type (FY 2025-26):

Corporate Tax (CT): ₹9,94,587.92
Non-Corporate Tax (NCT): ₹9,66,683.60
Securities Transaction Tax (STT): ₹49,177.97
Other Taxes (OT): ₹338.57

Advance Tax Collections

Category	FY 2024-25	FY 2025-26	% Growth
Corporate Tax	INR 5,62,422.18	INR 6,07,299.99	7.98%
Non-Corporate Tax	INR 1,93,656.40	INR 1,81,087.93	-6.49%
Total	INR 7,56,078.58	INR 7,88,387.92	4.27%

Overall Direct Tax Growth: 4.16% in gross collections; net collections up by 8% due to lower refunds.
Corporate Tax Driving Growth: Corporate advance tax is up 7.98%, while non-corporate advance tax declined 6.49%.
Refunds Down: A significant drop in refunds (-13.52%) indicates tighter processing or fewer excess payments.
Non-Corporate Segment Weakness: Despite overall growth, non-corporate advance tax fell, signaling stress among small businesses or professionals.

Summary of Direct Tax Collections (as on 17 December 2025 )

Gross Direct Tax Collection

Category	FY 2024‑25 (₹ Cr)	FY 2025‑26 (₹ Cr)	Growth
Corporate Tax (CT)	924,813.81	994,577.20	+7.55%
Non‑Corporate Tax (NCT)	954,174.32	966,683.69	+1.31%
STT	40,114.02	40,194.77	+0.20%
Other Taxes	2,829.59	338.57	-88%
Total	1,921,931.74	2,001,794.23	+4.16%

Gross direct tax collection increased 4.16%, mainly driven by corporate tax growth.

Refunds Issued

Category	FY 2024‑25 (₹ Cr)	FY 2025‑26 (₹ Cr)	Growth
Total Refunds	343,499.23	297,069.02	–13.52%

Refund outgo reduced significantly, which contributes to higher net collections.

Net Direct Tax Collection

FY	Net Collection (₹ Cr)
FY 2024‑25	1,578,432.51
FY 2025‑26	1,704,725.21

Net Direct Tax Growth: 8.00%

Net collections are rising faster than gross collections because refunds have decreased sharply.

Advance Tax Collections: Advance Tax Comparison

Category	FY 2024‑25 (₹ Cr)	FY 2025‑26 (₹ Cr)	Growth
Corporate Tax (CT)	562,422.18	607,299.99	+7.98%
Non‑Corporate Tax (NCT)	193,656.46	181,087.93	–6.49%
Total	756,078.58	788,387.92	+4.27%

Key Insight Corporate advance tax is growing strongly (~8%). & Non‑corporate advance tax fell (6.49% decline), possibly due to MSME stress or slower growth in individual business income. Following are Positive Indicators

Strong corporate profitability is reflected in higher CT collections.
Net direct tax collections show healthy 8% growth.
Lower refunds indicate better processing or lower overpayment.

Areas of Concern : Non‑corporate taxpayers show almost no growth in gross taxes and declining advance tax, signalling pressure on small businesses or more efficient tax planning. The data shows the corporate sector is performing better than the non‑corporate sector, government tax revenue growth remains stable at 4–8% depending on the metric, & lower refunds boost the government’s cash position mid‑year.

Tags: Direct Tax & Advance Tax collections

6 months ago

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.

Next Comparison of New Vs. Old tax regime for FY 2025-26 »

Previous « New Income-Tax forms under New Income Tax Act, 2025 (India)

All about Pre-Packaged Insolvency Resolution Process

All about Pre-Packaged Insolvency Resolution Process The Pre-Packaged Insolvency Resolution Process is a fast-track insolvency resolution mechanism under the IBC… Read More

2 days ago

IBC Laws

Moratorium & Bankruptcy Application: Individual Insolvency

Moratorium and Bankruptcy Application under Individual Insolvency Proceedings in IBC, 2016 IBC provides a structured framework for resolving the insolvency… Read More

3 days ago