New Delhi, Dec 02: India’s corporate tax collection rose over 115% from Rs 4,57,719 crore in 2020-21 to Rs 9,86,767 crore in 2024-25, according to Minister of State for Finance Pankaj Choudhary.
Despite reductions in corporate tax rates initiated since 2016 to spur growth, revenue increased more than 200%, driven by a significant rebound in net profits from Rs 2.5 lakh crore to Rs 7.1 lakh crore.
Government measures to enhance compliance and broaden the tax base, including stricter financial reporting and anti-black money legislation, contributed to this growth.
Additional initiatives aimed at taxpayer service and digital transactions were also implemented to improve tax collections.
