India's net direct tax collections rise 16.4% to Rs 6.51 lakh crore as of July 13

India's net direct tax collections rose 16.4% year-on-year to Rs 6.51 lakh crore as of July 13 in the current financial year, driven by higher corporate tax, non-corporate tax and securities transaction tax (STT) collections, according to official data released on Tuesday.

Gross direct tax collections increased 16.11% to Rs 7.74 lakh crore during the period, while refunds issued rose 14.57% to Rs 1.22 lakh crore, the data showed.

Corporate tax collections, after adjusting for refunds, stood at Rs 2.40 lakh crore, up from Rs 1.97 lakh crore in the corresponding period last year. Net non-corporate tax collections rose to Rs 3.85 lakh crore from Rs 3.44 lakh crore a year earlier.


Net collections from the Securities Transaction Tax (STT) climbed to Rs 26,428.96 crore, compared with Rs 17,875.88 crore in the year-ago period, while net collections under other taxes were marginally negative at Rs 2.02 crore, compared with a positive Rs 269.45 crore a year earlier.

On a gross basis, corporate tax collections increased to Rs 3.35 lakh crore from Rs 2.90 lakh crore, while non-corporate tax collections rose to Rs 4.12 lakh crore from Rs 3.58 lakh crore. Gross STT collections also increased to Rs 26,428.96 crore from Rs 17,875.88 crore.

The figures include taxes paid by corporates as well as non-corporate entities such as individuals, Hindu Undivided Families (HUFs), firms, associations of persons (AoPs), bodies of individuals (BoIs), local authorities and artificial juridical persons