Maharashtra Tops Corporate Tax Charts in FY 2024-25, Contributing Over Rs 4.39 Lakh Crore
Reported by Akshata Pawar
Pune, 13th May 2025: In a striking reaffirmation of its status as India’s economic engine, Maharashtra has emerged as the country’s top contributor to corporate tax in FY 2024-25, generating an impressive ₹4,39,918.79 crore — more than 43% of the nation’s total corporate tax revenue. According to the data from the Directorate General of Income Tax (Systems).
It reveals that India’s total corporate tax collection stood at ₹10,19,628.36 crore as of February 28, 2025.
Top 10 Contributors to Corporate Tax in FY 2024-25:
Maharashtra – ₹4,39,918.79 crore
Delhi – ₹1,24,449.74 crore
Karnataka – ₹1,01,915 crore
Tamil Nadu – ₹60,821.42 crore
Gujarat – ₹47,518.5 crore
Telangana – ₹43,503.38 crore
Haryana – ₹37,969 crore
West Bengal – ₹31,164.48 crore
Outside India – ₹27,456.86 crore
Uttar Pradesh – ₹16,640.42 crore
Maharashtra’s Lead Explained:
Maharashtra’s substantial contribution is largely attributed to the corporate and financial hubs of Mumbai and Pune, which host a dense concentration of multinational corporations, financial institutions, and manufacturing giants. The state’s investor-friendly policies, modern infrastructure, and skilled workforce have reinforced its role as a central pillar in India’s corporate architecture.
Delhi and Karnataka Follow:
Delhi and Karnataka ranked second and third, respectively, with corporate tax contributions of ₹1.24 lakh crore and ₹1.01 lakh crore. Karnataka’s performance, buoyed by its booming IT and startup ecosystem in Bengaluru, remains noteworthy.
Contributions from Outside India Surpass Many States:
Interestingly, revenues categorised under “Outside India” stood at ₹27,456.86 crore, exceeding those from states like Uttar Pradesh and West Bengal. This classification includes foreign companies or domestic firms operating global subsidiaries that are taxed under Indian jurisdiction.
Disparities Across States:
The data also highlights regional disparities in corporate tax contributions. Smaller states and Union Territories like Lakshadweep (₹0.73 crore), Ladakh (₹1.21 crore), and Mizoram (₹34.08 crore) contributed minimally, pointing to continued economic centralisation in select states.
