India's net direct tax receipts jump 13% to ₹13.38 trillion by mid-October
Net direct tax collection rose 13.21% to about ₹13.38 trillion between April 1 and October 14, propelled by a strong rebound in corporate taxes.
India’s net direct tax collection climbed 13.21% to approximately ₹13.38 trillion for the period April 1-October 14, reflecting a robust recovery in corporate tax payments. Corporate tax intake jumped 20.58%, reaching more than ₹5.99 trillion, whereas non-corporate taxes—paid by individuals, firms and HUFs—rose 5.83% to around ₹6.92 trillion. Securities transaction tax receipts expanded dramatically, up 52% to ₹46,840 crore.
Refunds issued during the same span increased 24.22% year-on-year, totaling ₹2.65 trillion. When measured on a gross basis, direct tax collection grew 15% to ₹16.03 trillion, comprising ₹7.53 trillion in corporate tax and ₹8.03 trillion in non-corporate tax.
Why it matters
The surge signals stronger tax compliance and higher corporate earnings, boosting government revenue for fiscal planning.
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