US EditionGross Direct Tax Collection Rise 3.17% to ₹6.64 Lakh Crore in FY26 so Far; Net Collections Fall
THE NETHERLANDS, JUL 10 – Dutch authorities will notify citizens about potential tax refunds to ensure they claim entitled amounts, aiming to improve tax return accuracy across the country.
- India’s net direct tax collection fell 1.34% to Rs 5.63 lakh crore between April 1 and July 10, primarily due to a 38% surge in refunds, government data shows.
- This decline stems from a 38.01% surge in tax refunds totaling Rs 1.01 lakh crore, offsetting gross collection gains and reducing net receipts.
- Government data released on July 11 shows a 3.17% gross growth to Rs 6.65 lakh crore, with Rs 17,874 crore from Securities Transaction Tax and improved taxpayer services.
- The surge in tax refunds presents short-term fiscal challenges for India’s government amid ambitious spending plans, raising concerns over fiscal consolidation in FY26.
- Looking ahead, India aims for Rs 25.20 lakh crore in FY26 direct tax collections, relying on economic recovery and Rs 78,000 crore in Securities Transaction Tax.
17 Articles
17 Articles
Gross direct tax collection rise 3.17% to ₹6.64 lakh crore in FY26 so far; net collections fall
India's gross direct tax collections for FY 2025-26 increased by 3.17% to ₹6.64 lakh crore as of July 10, compared to ₹6.44 lakh crore last year. However, net tax collections dipped by 1.34% to ₹5.63 lakh crore due to higher refunds.
India's net direct tax collection dips 1.34% to Rs 5.63 lakh cr on higher refunds during April 1-July 10
India's net direct tax collection for the current financial year registered a marginal decline of 1.34%, reaching approximately Rs 5.63 lakh crore by July 10, according to official data released by the government on Friday. The dip has been primarily attributed to a rise in tax refunds during the period. Breaking down the figures, net corporate tax collections amounted to around Rs 2 lakh crore, while non-corporate tax -- which includes contribu…
Direct Tax Dip Amid Surging Refunds
Direct Tax Dip Amid Surging Refunds The net direct tax collection decreased by 1.34 percent to roughly Rs 5.63 lakh crore as of July 10 in the current fiscal year, primarily due to higher refunds, government data revealed on Friday.The net corporate tax collection was approximately Rs 2 lakh crore, while the non-corporate tax, covering individual taxpayers, Hindu Undivided Families (HUFs), and firms, reached Rs 3.45 lakh crore. The securities tr…
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