Direct Tax Collections Continue Strong Growth Momentum: CBDT Releases Time Series Data (FY 2000–01 to FY 2024–25)
Issue: To provide a comprehensive, longitudinal view of India’s direct tax collections, showcasing the sustained growth trajectory, expansion of the taxpayer base, and improvements in compliance and tax administration efficiency.
Facts:
The Central Board of Direct Taxes (CBDT) released updated Time Series Data on direct taxes covering the 25-year period from FY 2000–01 up to the provisional figures for FY 2024–25.
The data reflects tax mobilization, taxpayer base, compliance levels, and overall contribution to the national exchequer.
Decision:
The data confirms that Direct Tax collections for FY 2024–25 registered a robust performance, sustaining a strong growth momentum that points toward an increasingly progressive and compliant tax ecosystem.
Key TakeDowns:
Record Total Collection: Provisional data for FY 2024–25 shows total Direct Tax collections reached ₹22.26 lakh crore (₹22.26 trillion), up from ₹19.60 lakh crore in FY 2023–24.
Growth Drivers (Tax Category): The growth was primarily driven by:
Non-Corporate Tax: Rose significantly from ₹10.44 lakh crore in FY 2023–24 to ₹12.35 lakh crore in FY 2024–25.
Corporate Tax: Also showed healthy growth, rising from ₹9.11 lakh crore to ₹9.86 lakh crore.
Share in Total Revenue: The share of direct taxes in the total tax revenue increased to 58.81% in FY 2024–25 (up from 56.71% in FY 2023–24), indicating a healthier and more progressive tax ecosystem.
Tax-GDP Ratio: The Direct Tax-GDP ratio strengthened, increasing to 6.73% in FY 2024–25 (compared to 6.51% in FY 2023–24). * Wider Compliance Base: The number of ITR filers increased to 9.18 crore (up from 8.61 crore), with the total number of taxpayers reaching 12.13 crore, reflecting significant efforts in widening the tax base.
Efficiency: The cost of tax collection continues to decline, standing at just 0.41% in FY 2024–25, making India’s tax administration highly efficient.
Source :- Final-time-series-data