Direct Tax Collection Rises 13%
Net direct tax collection crossed ₹12.12 trillion by September 17, driven by higher advance tax receipts.
India’s net direct tax collection rose 13% to more than ₹12.12 trillion between April 1 and September 17 of the current financial year, according to data released by the Central Board of Direct Taxes (CBDT). The increase was supported by higher advance tax collections.
Corporate tax collection increased 19.48% to around ₹5.56 trillion, while non-corporate tax collection, which includes individuals and Hindu Undivided Families (HUFs), rose 6% to more than ₹6.16 trillion.
Securities Transaction Tax (STT) collection recorded a sharper increase, rising 53% to ₹40,214 crore during the period. Tax refunds issued by the government also increased 29.19% to more than ₹2.20 trillion by September 17.
Gross direct tax collection, before accounting for refunds, grew 15% to more than ₹14.32 trillion. Advance tax collection increased 16.18% to around ₹5.22 trillion.
Corporate advance tax payments rose 18% to more than ₹4.16 trillion, while non-corporate advance tax collections increased 9.24% to ₹1.06 trillion.
The latest figures cover the period from April 1 to September 17 of the current financial year and reflect collections across corporate, individual and securities-related direct taxes.