The Indian government's net direct tax collection rose 16% year-on-year to 9.96 trillion rupees ($119.07 billion) during April 1 to Sep 17, it said in a statement on Wednesday.

Net direct tax collections for the financial year 2024-25 have surged by 16%, reaching ₹9.95 lakh crore as of September 17, according to the latest data from the Central Board of Direct Taxes (CBDT).

So far, individuals and businesses have paid ₹4.36 trillion in advance tax, showing a 23% jump from the year-ago period.

India's net direct tax collections grew 16.12 percent to Rs 9.96 lakh crore till September 17 in the current financial year as compared to Rs 8.58 lakh crore in the corresponding period of FY24, the income tax department said on September 18.

The Central Board of Direct Taxes on Wednesday released the data on Direct Tax (DT) collections till September 17, 2024, for FY 2024-25. The net direct tax collections have increased by 21.48% y-o-y to Rs 12.