As per the data, advance tax mop-up grew 16.18 per cent to about Rs 5.22 lakh crore. (File Photo)

New Delhi:The government on Friday said that India’s net direct tax collection rose 13 per cent to over Rs 12.12 lakh crore till September 17 in the current fiscal, buoyed by better advance tax mop-up from corporates, according to the finance ministry.

As per the data, advance tax mop-up grew 16.18 per cent to about Rs 5.22 lakh crore. “This includes an 18 per cent growth, at over Rs 4.16 lakh crore, in advance tax payments by corporates, and a 9.24 per cent rise in non-corporate advance tax of Rs 1.06 lakh crore. Refund issuance jumped 29.19 per cent to over Rs 2.20 lakh crore till September 17,” showed the Central Board of Direct Taxes (CBDT) data.

The gross direct tax collection clocked a 15 per cent growth, totalling over Rs 14.32 lakh crore. “After adjusting refunds, net collections from direct taxes (which includes corporate, non corporate, STT) registered a 12.96 per cent growth at over Rs 12.12 lakh crore,” the CBDT data showed.

“Net corporate tax mop-up rose 19.48 per cent to about Rs 5.56 lakh crore, while non-corporate tax (individuals and HUFs) mop-up increased 6 per cent to over Rs 6.16 lakh crore. Securities Transactions Tax (STT) collection grew 53 per cent to Rs 40,214 crore between April 1 and September 17,” it showed.

EY India, Tax Partner, Jayesh Sanghvi, said the data indicates that the tax buoyancy is broad-based with non-corporate tax now accounting for 48.7 percent of the gross pie versus corporate tax's 48.5 percent. “Nominal GDP for June quarter of FY27 grew 10.3 per cent, and the FY27 Budget assumes full-year nominal growth of 10 per cent. Against that baseline, gross direct tax buoyancy runs at roughly 1.47, and net buoyancy at 1.26, a meaningful reversal from FY 2025-26,” Sanghvi said.

Grant Thornton Bharat, Partner-Tax, Richa Sawhney, said that direct tax collections continue to signal healthy underlying economic activity and the strength of the tax base. “The steady growth in advance tax payments remains a positive indicator of taxpayer confidence, business performance and expectations of sustained income growth,” Sawhney said. #End#

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