Direct tax mop-up grows over 14% to over ₹5.21 lakh crore on higher advance tax payments
India's net direct tax collection grew by 14.64% to over ₹5.21 lakh crore till June 17 of the current fiscal year, driven by higher advance tax payments from corporates. Net corporate tax collection increased by 22% to ₹2.08 lakh crore, while non-corporate tax (NCT) grew by 8% to ₹2.94 lakh crore. Securities Transaction Tax (STT) saw a significant 45% rise to ₹18,856 crore. Advance tax collection itself grew by 15.30%. Experts view this growth as an indicator of strong corporate sector performance, improved business confidence, and a positive sign for the government's fiscal deficit targets.
India's net direct tax collection grew by 14.64% to over ₹5.21 lakh crore till June 17 of the current fiscal year, driven by higher advance tax payments from corporates. Net corporate tax collection increased by 22% to ₹2.08 lakh crore, while non-corporate tax (NCT) grew by 8% to ₹2.94 lakh crore. Securities Transaction Tax (STT) saw a significant 45% rise to ₹18,856 crore. Advance tax collection itself grew by 15.30%. Experts view this growth as an indicator of strong corporate sector performance, improved business confidence, and a positive sign for the government's fiscal deficit targets.
Exam linkage
GS Paper 3: Indian Economy - Government Budgeting, Fiscal Policy, Taxation
Syllabus mapping
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Questions on Indian Economy come up regularly in GS papers. Practice writing an answer — and see exactly what earns marks.
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