The collection could have been greater if there had been an improved recovery in the demand for delay. | Photo credit: Istockphoto
Bear Run in the stock market and a higher reimbursement are based on the collection of direct taxes to lose the objective of reviewed estimates (RE) for fiscal year 2024-25 (FY25) on around ₹ 10,000 million rupees. However, the collection of corporate taxes and non -corporate taxes exceeded the reviewed estimates.
The provisional data published by the Income Tax Department showed that the net collection increased by 13.6 percent to reach the ₹ 22.26 Lakh Crore in fiscal year 2015. Re was ₹ 22.37 Lakh Crore. The factor responsible for lower collection was the Tax on Transaction of Securities (STT). As the Bear market spell was transferred to a lower value in February and March and STT, AD VALEEM (Value Percentage) is collected, this Stt affected collection and the re was lost. At the same time, the reimbursements were significant higher. The data showed that refunds increased to more than ₹ 4.77 Lakh Crore in fiscal year 200
Meanwhile, corporate tax collection exceeded Re. Although industrial production slowed down, the impact was not yet considerable. At the same time, more than 4,000 traded companies revealed a income growth of 6.2 percent, with Ebitda and PAT increasing 11 percent and 12 percent, respectively, in the third quarter of25 compared to the same quarter of the previous year. All this helped collection.
The non -corporate tax (taxes paid by individuals, HUFS, companies, AOPS, BOIS, local authorities, artificial legidic person) saw a much better collection. He thought that the Central Direct Tax Board (CBDT) did not give any reason for the increase, it is believed that the income of companies and professionals is expected to see significant growth. That was reflected in the highest anticipated tax collections of non -corporate advisors and that helped grow general collection.
The collection could have been greater if there had been an improved recovery in the demand for delay. Recently, a parliamentary panel said that more than 2/3RD or around ₹ 29 Lakh Crore or direct tax delays are difficult to collect. The panel report highlighted the total direct tax arrears as of February 14 to ₹ 43 Lakh Crore, of which around ₹ 29 Lakh crore bone categorized as ‘Difficult to charge’ demand. In his presentation before the Committee, the President, CBDT (Central Board of Direct Taxes), said that the enormous delay requires what a cause or group for the tax administration is.
Posted on April 25, 2025