CA Sansaar
Direct Tax Revenue Grows 9.4% to ₹19.44 Lakh Crore in Current Fiscal till Feb 10
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Net direct tax collections have recorded a steady increase of 9.4%, reaching approximately ₹19.44 lakh crore in the ongoing financial year up to February 10. The growth has been supported largely by a strong rise in corporate tax revenues and relatively lower refunds issued during the period.
According to data released by the Income Tax Department, net collections from corporate taxes showed a notable jump of 14.51%, amounting to around ₹8.90 lakh crore. This indicates improved profitability and stable compliance among companies. Meanwhile, tax revenues from non-corporate taxpayers, which include individuals, professionals, and Hindu Undivided Families (HUFs), increased by 5.91% to nearly ₹10.03 lakh crore. Though the pace of growth in this segment was comparatively moderate, it still reflects consistent inflows from personal income tax and related sources.
In addition, collections under the Securities Transaction Tax (STT) stood at ₹50,279 crore for the period between April 1 and February 10. This figure remained largely unchanged compared to the corresponding period of the previous financial year, suggesting stable activity levels in equity and securities markets.
Overall, the data points to sustained revenue growth for the government during the current fiscal year, with corporate tax collections playing a key role in strengthening the direct tax kitty.
According to data released by the Income Tax Department, net collections from corporate taxes showed a notable jump of 14.51%, amounting to around ₹8.90 lakh crore. This indicates improved profitability and stable compliance among companies. Meanwhile, tax revenues from non-corporate taxpayers, which include individuals, professionals, and Hindu Undivided Families (HUFs), increased by 5.91% to nearly ₹10.03 lakh crore. Though the pace of growth in this segment was comparatively moderate, it still reflects consistent inflows from personal income tax and related sources.
In addition, collections under the Securities Transaction Tax (STT) stood at ₹50,279 crore for the period between April 1 and February 10. This figure remained largely unchanged compared to the corresponding period of the previous financial year, suggesting stable activity levels in equity and securities markets.
Overall, the data points to sustained revenue growth for the government during the current fiscal year, with corporate tax collections playing a key role in strengthening the direct tax kitty.
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