NEW DELHI, Nov 11 : The net direct tax collection grew 7 pc to reach Rs 12.92 trillion between April 1 and November 10.
As per the official government data, India’s net direct tax collection was helped by higher corporate tax receipts and a drop in refund payouts.
Gross direct tax collections before refunds amounted to Rs 15.35 trillion, reflecting a 2.15 per cent increase from the previous year. In FY 2024-25, the comparable figure stood at Rs 15.03 trillion.
The data highlighted that the refund issuances during the period declined by 18 per cent, totalling Rs 2.42 trillion, compared with the same period last year.
The slower pace of refunds contributed to the higher net collections, even as overall growth in gross collections remained modest.
Net corporate tax collections stood at around Rs 5.37 trillion, up from Rs 5.08 trillion in the corresponding period of FY 2024-25.
Further, the non-corporate tax receipts, which include personal income tax from individuals and Hindu Undivided Families (HUFs), rose to Rs 7.19 trillion from Rs 6.62 trillion a year ago.
The government data also said the overall net direct tax collections comprising personal income tax and corporate tax rose from Rs 12.08 trillion last year to Rs 12.92 trillion this fiscal year up to November 10.
Notably, for the financial year 2025-26, the government has set a target of Rs 25.20 trillion in direct tax collections, representing a 12.7pc increase over the previous year. The projected revenue from Securities Transaction Tax (STT) is Rs 78,000 crore.
(UNI)
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