Net direct tax collection climbed 9.18 per cent to over Rs. 10.82 lakh crore till September 17 in the current fiscal, driven by the higher advance tax payments from corporates and slower issuance of refunds, the government said.
Refunds issued during the period dropped 24 per cent to Rs. 1.61 lakh crore, PTI reported.
Corporate advance tax mop-up rose 6.11 per cent to over Rs. 3.52 lakh crore, while non-corporate advance tax collection, which includes individuals and Hindu Undivided Families (HUFs), fell 7.3 pre cent to Rs. 96,784 crore.
Net corporate tax collection stood at over Rs. 4.72 lakh crore, up from Rs. 4.50 lakh crore in the same period last fiscal. Non-corporate tax collection reached Rs. 5.84 lakh crore, up from Rs. 5.13 lakh crore a year ago.
Securities Transaction Tax (STT) collection was Rs. 26,306 crore, marginally higher than Rs. 26,154 crore in the corresponding period last year. Gross direct tax collection, before accounting for refunds, grew 3.39 per cent to over Rs. 12.43 lakh crore. For FY26, the government has set a direct tax collection target of Rs. 25.20 lakh crore, a 12.7 per cent rise over the previous year, and aims to raise Rs. 78,000 crore from STT.
Source: The Times of India
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