India’s net direct tax collections have surged by 13.13% to cross Rs 21.26 lakh crore for the fiscal year, with higher advance tax collections driving the growth. Corporate tax collections witnessed a 12.54% increase, while non-corporate tax collections, such as personal income tax, saw a significant jump of 20.47%. Additionally, the Securities Transaction Tax (STT) recorded a substantial rise of almost 56%.
India’s direct tax collections surge by 13.13% to Rs 21.26 lakh crore, driven by higher advance tax; STT up 56%.
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