Net direct tax collections grew 16.45 per cent to Rs 15.82 trillion between April 1 and December 17 of FY25, according to the latest data released by the Income Tax (I-T) department on Wednesday.

       Of this, non-corporate tax — which includes taxes paid by individuals, Hindu undivided families (HUFs), firms, body of individuals, association of persons, local authorities and artificial judicial persons grew 22.5 per cent year-on-year (Y-o-Y) to Rs 7.97 trillion.

       Corporate tax, during the same period, grew at a slower pace of 8.6 per cent to Rs 7.4 trillion. The securities transaction tax (STT) grew 85.5 per cent to Rs 40,114 crore.

       Gross direct collections during the period grew 20.3 per cent to Rs 19.2 trillion with refunds growing 42.5 per cent to Rs 3.4 trillion.

       This includes advance tax collections, which contributed Rs 7.6 trillion during the period, growing at 20.9 per cent. The third instalment of advance tax payment was due on December 15.

       More From This Section

       At $129 bn, India top recipient of remittances this year: World Bank

       Investments, consumption to drive growth in FY26 to 6.6%: India Ratings

       EPFO, ESIC subscribers may soon use claim money via e-wallets: Labour secy

       Net direct tax collection rises 16.45% to Rs 15.82 trillion till Dec 17

       India to grow 6.6% in FY26, driven by investments, easing rates: Ind-Ra

       In advance tax collections, while corporate tax grew 16.7 per cent, non-corporate tax was up 35 per cent.

       The Centre aims to raise gross tax revenue of Rs 38.4 trillion in FY25. The Budget set a target of Rs 22.07 trillion from direct taxes and Rs 16.33 trillion from indirect taxes.

       In FY24, the Centre’s direct tax revenue was at Rs 19.58 trillion, adjusting for refunds, showing 17.7 per cent growth.

       “Buoyancy of the tax revenues is an outcome of the growth momentum in the economy and the tax reforms that led to formalisation of the economy, leading to effective compliances,” said Gokul Chaudhri, partner with Deloitte.

       Charan Singh, founder and chief executive officer (CEO) of EGROW Foundation, said the higher tax collections are encouraging. He said it is an advance indicator of higher growth, after the disappointing performance of the gross domestic product (GDP) in the second quarter.

       “Tax collection is better in both corporate and non-corporate, reflecting a balanced growth. It was expected because of the festival season having set in. Also, encouraging to note is the amount of refunds, as well as collections under STT. This augurs well for the economy,” Singh added.

       Also Read

       Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief

       Premium

       Centre expects to exceed gross direct tax collection target for FY25

       Net direct tax collection rises 15.4% to Rs 12.1 trn in April-Nov

       Direct tax-GDP ratio hits 24-year high of 6.64% in FY24, shows data

       Steady growth: Net direct tax collection up 18.3% to Rs 11.3 trillion