New Delhi, Dec 18 (FN Bureau) Net direct tax collections comprising of personal income tax, corporate tax, securities transaction tax (STT) and other taxes rose 16.45% year-on-year to Rs 15,82,584 crore in the current financial year 2024-25 till December 17, 2024, as per official data released on Wednesday. The net income tax collections during the same period last year had stood at Rs 13,59,067 crore. The net direct tax collection in the current fiscal till December 17, 2024 include Rs 7,42,607 crore (net of refund) of corporate tax, Rs 7,97,080 crore on non-corporate tax and Rs 40,114 crore securities transaction tax (STT).
The income tax data showed a 42.49% year-on-year increase in refunds to Rs 3,38,924 crore during April-December period till December 17, 2024. Gross direct tax collection in FY25 till December 17 stood at Rs 19,21,508 crore, up 20.32% year-on-year. The total advance tax collection in current fiscal till December 17 increased 20.90% year-on-year to Rs 7,56,015 crore. While non-corporate advance tax (paid by individuals, HUF and others) jumped 35% during this period, advance corporate tax collection increased 16.71% year-on-year.