At Rs 3.39 trillion, direct tax collection sees a 45% surge: CBDT

Advance tax by companies and individuals rises 33%

Net direct tax collections for the current fiscal year surged 45 per cent to Rs 3.39 trillion between April 1 and June 16, compared to Rs 2.33 trillion in the same period a year ago, the Central Board of Direct Taxes (CBDT) said on Friday.

Advance tax collections for the first quarter of this fiscal stood at over Rs 1.01 trillion against Rs 75,783 crore in the corresponding period last fiscal. This is a rise of 33 per cent.

Of this, corporates paid Rs 78,842 crore and collections from individuals stood at Rs 22,175 crore. This amount is expected to increase as