India's direct tax collections increase by 16.15%

India's net direct tax collections have increased by 13.13% to over Rs 21.26 lakh crore for the fiscal year, driven by higher advance tax payments. Corporate tax collections rose by 12.54%, while non-corporate taxes, including personal income tax, surged by 20.47%. Advance tax collections reached Rs 10.44 lakh crore, up from Rs 9.11 lakh crore last year. The final advance tax payment was due on March 15, 2025. Securities Transaction Tax collections also saw a significant rise of nearly 56%, totaling Rs 53,095 crore. The government has revised its income tax collection estimate to Rs 12.57 lakh crore, up from Rs 11.87 lakh crore. The overall revised estimate for direct tax collections is now Rs 22.37 lakh crore, slightly above the previous budget estimate.