Net direct tax collection in India has increased by 13.21% to approximately ₹13.38 trillion between April 1 and October 14 of the current fiscal year, primarily driven by a significant rise in corporate taxes.

Key Figures

  • Net corporate tax collection surged by 20.58% to over ₹5.99 trillion.
  • Non-corporate tax, which includes payments from individuals, firms, and Hindu Undivided Families (HUFs), increased by 5.83% to about ₹6.92 trillion.
  • Collection from securities transaction tax (STT) rose dramatically by 52% to ₹46,840 crore.
  • Refund issuances saw a year-on-year increase of 24.22%, totaling ₹2.65 trillion during this period.