Direct Tax Kitty Rises To Rs 21.26l Cr

Centre collected Rs10.44 lakh cr from 4 installments of advance tax as against Rs9.11 lakh cr in the previous fiscal, registering a growth of 14.62%

New Delhi: Net direct tax collection grew 13.13 per cent to over Rs21.26 lakh crore so far this fiscal aided by higher advance tax mop-up, government data showed on Monday. During the year, the government collected Rs10.44 lakh crore from four installments of advance tax as against Rs9.11 lakh crore in the previous fiscal, registering a growth of 14.62 per cent. The last installment of the advance tax payment was due on March 15, 2025, for the current financial year.

Advance tax collection under the corporate tax category rose by 12.54 per cent to Rs7.57 lakh crore, while non-corporates witnessed a growth rate of 20.47 per cent to Rs2.87 lakh crore during the financial year. An individual whose estimated tax liability is likely to be over Rs10,000 (after considering tax deducted and collected at source - TDS and TCS) is required to pay advance tax that year, as per Section 208 of the Income-Tax Act.

This includes salaried taxpayers. Advance tax is to be paid before the end of the financial year on the income that one would have earned that year. Advance tax is paid in four installments - June 15, September 15, December 15, and March 15 of the financial year. As per the data released by the Central Board of Direct Taxes (CBDT), mop up from net non-corporate taxes, which include mainly personal income tax, grew 17 per cent year-on-year to about Rs11.01 lakh crore. However, net corporate tax collection rose in single digits at 7 per cent to Rs9.69 lakh crore between April 1, 2024, and March 16, 2025.