Net direct tax collection rises 16.4% to ₹6.51 lakh crore till July 13: Govt data

Net direct tax collections grew 16.4% to over ₹6.51 lakh crore so far in the current financial year, according to official data.

Net direct tax collections stood at ₹6,51,189.81 crore as on July 13, compared with ₹5,59,424.72 crore in the corresponding period of the previous financial year.

Gross direct tax collections rose 16.11% to ₹7,73,681.68 crore during the period, from ₹6,66,337.20 crore a year ago.

Refunds issued increased 14.57% to ₹1,22,491.87 crore, compared with ₹1,06,912.48 crore in the year-ago period.

Corporate tax gross collections increased to ₹3,35,386.27 crore from ₹2,90,130.54 crore, while non-corporate tax gross collections rose to ₹4,11,853.80 crore from ₹3,58,058.12 crore.

Securities Transaction Tax (STT) collections also increased to ₹26,428.96 crore from ₹17,875.88 crore.

After adjusting for refunds, net corporate tax collections stood at ₹2,40,241.64 crore, up from ₹1,96,905.48 crore in the corresponding period last year. Net non-corporate tax collections rose to ₹3,84,521.23 crore from ₹3,44,373.91 crore.