Net direct tax collections grew 9.8% till mid-June

India's net direct tax collections for 2024-25 (FY25) grew 9.81 per cent to ₹4.62 trillion till June 16 of the first quarter over the same period in FY24, officials aware of the figures said.

- SHRIMI CHOUDHARY

Of the total tax collected until June 16, corporation tax accounted for 1.81 trillion, while personal income tax (I-T) stood at 2.69 trillion. This includes advance collections, which contributed ₹1.48 trillion during the period, they said. The first instalment of advance tax payment was due on June 15.

The tax collections until June 16, after adjusting net of refunds, are lower than the government's FY25 projection, which has provisioned 13 per cent growth for both corporate and personal I-T collection in the Interim Budget.

"These are the provisional figures and reflect payments until midnight of June 16," said the official cited above.