New Delhi, Jun 18 (PTI) Net direct tax collection grew 14.64 per cent to over Rs 5.21 lakh crore till June 17 this fiscal year on higher advance tax mop-up from corporates, government data showed on Thursday.

Net corporate tax collection rose 22 per cent to Rs 2.08 lakh crore, and mop-up from net non-corporate tax (NCT), which includes taxes paid by individuals, HUFs, firms, grew 8 per cent to about Rs 2.94 lakh crore till June 17.

Mop-up from Securities Transaction Tax (STT) grew 45 per cent to Rs 18,856 crore.

Advance Tax collection grew 15.30 per cent to over Rs 1.78 lakh crore.

This includes 16 per cent growth in mop-up from corporates at over Rs 1.40 lakh crore, and 13 per cent increase in NCT at Rs 37,620 crore.

Refunds worth Rs 89,026 crore was issued till May 17, registering an increase of 1.19 per cent over the year-ago period.

On a gross basis, direct tax collection increased 12.46 per cent to over Rs 6.10 lakh crore. This includes corporate tax of over Rs 2.76 lakh crore and NCT of about Rs 3.15 lakh crore.

The government has budgeted to collect Rs 26.97 lakh crore from direct taxes in the current fiscal year, a 15 per cent growth over Rs 23.40 lakh crore collected in FY26.

Deloitte India Partner Rohinton Sidhwa said overall it appears that tax collections have shrugged off the degrowth caused by previous years' rate cut and once again resumed the growth path.

"The data also shows strong advance tax growth from companies indicating the corporate sector is doing well. While these are early indicators of the trends sustains it would help keep the government on its track of maintaining the fiscal deficit target," Sidhwa said.

EY India Tax Partner Jayesh Sanghvi said the advance tax growth indicates a reversal trend from the tepid growth of corresponding period last year on both corporate and non-corporate.

"This is a forward indicator of potential business confidence. Interestingly, the STT growth stands out indicating continued heightened market activity following from buoyant corporate results for FY 2025-26," Sanghvi said. PTI JD TRB

Direct tax collections rise on stronger advance tax mop-up and higher corporate tax receipts across key segments. Net direct tax collection increased by 14.64 per cent to over Rs 5.21 lakh crore up to June 17 of the fiscal year, driven primarily by higher advance tax mop-up from corporates. Net corporate tax collection rose 22 per cent, while net non-corporate tax collection increased 8 per cent. Securities Transaction Tax collection also recorded strong growth, and advance tax collection rose 15.30 per cent, with corporate and non-corporate advance tax both showing gains.