Net direct tax growth slows to 15.88% by January 12.

• India’s net direct tax collections slowed to 15.88% by January 12, from a 16.5% increase as of December 17, with gross receipts slightly tapering from 20.3% to 19.94%.

• Gross tax receipts stood at ₹20.64 lakh crore, with corporate taxes accounting for 47.07% and non-corporate taxes yielding over 50.6%.

• After accounting for refunds, net direct tax collections stood just short of ₹16.9 lakh crore.

• Corporate taxes had a smaller share of 45.45% or ₹7.68 lakh crore, while non-corporate taxes delivered 51.7% of the pie.

• Net corporate tax receipts were up 8.12% over last year, while non-corporate tax collections had grown 22.5% to ₹7.97 lakh crore.

• STT receipts reported a slower growth of 75.24% as of January 12, indicating some tapering in stock market volumes.

• In 2023-24, net direct tax revenues rose 17.7% to ₹19.58 lakh crore, with the share of Personal Income Tax rising to 53.3%.