Direct tax collections rise 9.4% to Rs 19.44 lakh cr; corporate tax drives growth

Net direct tax collection rose 9.4 per cent to about Rs 19.44 lakh crore in the current financial year till February 10, supported by lower refund payouts and higher corporate tax collections, according to data released by the Income Tax Department on Wednesday.Net corporate tax collection increased 14.51 per cent to Rs 8.90 lakh crore, while tax collection from non-corporates, including individuals and Hindu Undivided Families (HUFs), grew 5.91 per cent to about Rs 10.03 lakh crore during the period, PTI reported. Securities Transaction Tax (STT) collection stood at Rs 50,279 crore between April 1 and February 10, remaining nearly flat compared with the same period last year.Tax refunds issued during the period declined 18.82 per cent to Rs 3.34 lakh crore.Gross direct tax collection rose 4.09 per cent to Rs 22.78 lakh crore till February 10 of the current fiscal. This includes gross corporate tax collection of Rs 10.88 lakh crore and non-corporate tax collection of Rs 11.39 lakh crore.In the Revised Estimates for FY 2025-26, the government has projected total direct tax collection at Rs 24.84 lakh crore.