India’s net direct tax collection increased 14.64% year-on-year to over Rs 5.21 lakh crore as of June 17 in the current financial year, supported by robust advance tax payments, particularly from corporates.

According to government data, net corporate tax collections grew 22% to Rs 2.08 lakh crore during the period. Meanwhile, net non-corporate tax collections, which include taxes paid by individuals, HUFs, and firms, rose 8% to nearly Rs 2.94 lakh crore.

Collections from Securities Transaction Tax (STT) also witnessed strong growth, surging 45% year-on-year to Rs 18,856 crore, reflecting healthy activity in the capital markets.