New Delhi, March 18 -- India's net direct tax revenue in 2024-25 (up to March 16) saw over 13% year-on-year growth surpassing Rs.21.26 lakh crore after Rs.4.60 lakh crore refunds, prompting experts to expect that the revenue collection could meet the Rs.22.37 lakh crore budget target set in the revised estimate for FY25 on enhanced compliance.
The gross direct tax revenue in FY25 (till March 16) jumped 16.15% to over Rs.25.86 lakh crore as compared to little more than Rs.22.27 lakh crore collected in the same period of last year, data released by the finance ministry on Monday said.
With over 32.5% annualised jump in refunds, the net revenue in the current period mentioned above was Rs.21,26,923 crore.
The income-tax department has alrea...