Net Direct Tax Collections Up By 13.13% To Rs 21.26 Lakh Crore
The net direct tax collection increased 13.13% to over Rs 21.26 lakh crore so far in this financial year due to higher advance tax collection, according to government data reports released on Monday.
The centre saw a growth of 14.62% and collected Rs 10.44 lakh crore from four installments of advance tax as against Rs 9.11 lakh crore in the previous fiscal year.
The fourth and final installment of advance tax payments for the fiscal was due on March 15, 2025. Corporate tax advance payments increased 12.54% to Rs 7.57 lakh crore, while non-corporate tax payments, including personal income tax, grew 20.47% to Rs 2.87 lakh crore.
Individuals with an estimated tax liability above Rs 100,000 are required to pay advance tax, as per Section 208 of the Income Tax Act. Advance tax is paid in four installments: June 15, Sept. 15, Dec. 15, and March 15.
According to data released by the Central Board of Direct Taxes, net non-corporate tax collections rose 17% year-on-year to Rs 11.01 lakh crore. Net corporate tax collection increased 7% to Rs 9.69 lakh crore between April 1, 2024, and March 16, 2025.
Net direct tax collections grew 13.13% to Rs 21.26 lakh crore. Securities transaction tax collections surged 56% to Rs 53,095 crore. Refunds worth over Rs 4.6 lakh crore were issued during the period, up from Rs 3.47 lakh crore in the previous year.
Gross direct tax mop-up till March 16 grew 16.15% to more than Rs 25.86 lakh crore.
In the revised estimates for the current fiscal, the government has pegged income tax collections at Rs 12.57 lakh crore, up from the budget estimate of Rs 11.87 lakh crore.
The collection from STT is pegged at Rs 55,000 crore in this fiscal in RE, higher than the budget estimate of Rs 37,000 crore.
The corporate tax collection target was revised lower at Rs 9.80 lakh crore, down from the budget target of Rs 10.20 lakh crore.
In total, the RE pegs direct tax collections at Rs 22.37 lakh crore, higher from Rs 22.07 lakh crore in BE.
(With Inputs From PTI.)
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
