Net direct tax collection up 23.5% till mid-Sept on better advance mop-up

Net direct tax collection grew 23.51 per cent to over Rs 8.65 lakh crore till mid-September, on higher advance tax mop-up from corporates, the Finance Ministry said.

The net direct tax collection of Rs 8,65,117 crore (as on September 16) includes corporate income tax (CIT) at Rs 4,16,217 crore and personal income tax (PIT) including Securities Transaction Tax (STT) at Rs 4,47,291 crore.

Net direct tax collections for the current fiscal as on September 16, have grown at over 23.51 per cent, the ministry said in a statement.

Advance tax collections stood at Rs 3.55 lakh crore till mid-September, a 21 per cent growth against Rs 2.94 lakh crore collected in the corresponding period of the preceding financial year.