 "What is Direct Tax")
Direct Tax
What is Direct Tax
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Latest Updates on Direct Tax
India's net direct tax collection up 7% so far in FY26: CBDT data
The Centre has budgeted Rs 25.2 trillion in direct tax collections for FY26. In the previous year, net direct taxes rose 13.6 per cent to Rs 22.26 trillion, surpassing the Budget estimate
 "India's net direct tax collection up 7% so far in FY26: CBDT data")
Assocham for easing direct tax measures to spur investor confidence
Chamber urges fiscal clarity for global data players, IBC loan waiver relief, and revival of the 15 per cent corporate tax rate to attract new investments
 "Assocham for easing direct tax measures to spur investor confidence")
Net direct tax mop-up falls nearly 4% to ₹6.64 trn in FY26 on high refunds
Total net collections stood at about Rs 6.64 trillion, a 3.95 per cent fall over Rs 6.91 trillion collected in the same period last fiscal (2024-25)
 "Net direct tax mop-up falls nearly 4% to ₹6.64 trn in FY26 on high refunds")
Tax arrears worth ₹54.53 trillion pending as on June 30: Govt tells RS
Of the total indirect tax arrears, over ₹2.66 trillion pertain to those where pending taxes in individual cases is above ₹10 crore as of June 2025
 "Tax arrears worth ₹54.53 trillion pending as on June 30: Govt tells RS")
Direct tax mop up for 2024-25 fiscal hits target; record refunds issued
Similarly, the provisional figures for net (after issuing refunds) direct tax collections for the 2024-25 fiscal stood at Rs 22.26 trn, an increase of 13.57 per cent as compared to Rs 19.60 trn
 "Direct tax mop up for 2024-25 fiscal hits target; record refunds issued")
Outlook gloomy for corporate share in direct tax mopup, shows data
The trend for corporate tax collections has been declining relative to overall tax collections. The share hit a high of 67 per cent in FY11 and dropped to 46.5 per cent as of FY24
 "Outlook gloomy for corporate share in direct tax mopup, shows data")
CBDT amends norms, mandates detailed income disclosures for business trusts
For tax purposes, business trusts such as REITs, InvITs, and certain AIFs get pass-through status and are not taxed on the income earned by them
 "CBDT amends norms, mandates detailed income disclosures for business trusts")
There is no plan to phase out old tax regime: CBDT Chairman Ravi Agrawal
Agrawal discussed a range of topics, including framing of tax proposals, and why he feels most taxpayers would opt for the new tax regime
 "There is no plan to phase out old tax regime: CBDT Chairman Ravi Agrawal")
Net direct tax collection grew 16.45% to Rs 15.82 trn till Dec 17 of FY25
Gross direct collections during the period grew 20.3 per cent to Rs 19.2 trillion, with refunds increasing 42.5 per cent to Rs 3.4 trillion
 "Net direct tax collection grew 16.45% to Rs 15.82 trn till Dec 17 of FY25")
Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief
Agarwal also said that taxpayers who have not disclosed their foreign income or assets in their ITRs have time till December 31
 "Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief")
Centre expects to exceed gross direct tax collection target for FY25
Actual tax liability declined by 40% for those earning between Rs 10-20 lakh
 "Centre expects to exceed gross direct tax collection target for FY25")
Net direct tax collection rises 15.4% to Rs 12.1 trn in April-Nov
Direct taxes, which include corporate and personal tax, grew over 21 per cent to Rs 15 trillion on a gross basis
Direct tax-GDP ratio hits 24-year high of 6.64% in FY24, shows data
Direct tax mopup rises 18%, outpacing economic growth; buoyancy at 2.12
 "Direct tax-GDP ratio hits 24-year high of 6.64% in FY24, shows data")
Steady growth: Net direct tax collection up 18.3% to Rs 11.3 trillion
Of the tax mop-up, personal income-tax (PIT) outpaced corporation tax. PIT stood at Rs 5.98 trillion (net) compared to Rs 4.88 trillion in the same period a year ago
 "Steady growth: Net direct tax collection up 18.3% to Rs 11.3 trillion")
Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data
Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 per cent
 "Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data")
Finance ministry notifies direct tax Vivad Se Vishwas Scheme, 2024
Though the scheme's operational date has been announced, the final date for the scheme is yet to be determined
 "Finance ministry notifies direct tax Vivad Se Vishwas Scheme, 2024")
Net direct tax collection rises 16.12% to Rs 9.95 trillion till Sep 17
Refunds worth over Rs 2.05 trillion were issued, a 56.49 per cent jump over the same period last fiscal
Panel headed by V K Gupta to simplify decades-old direct tax laws
More than 90 sections seen redundant; panel in line with Budget promise of comprehensive review
Net direct tax collection rises 22.5% to Rs 6.93 trillion till Aug 11
At Rs 4.47 trn, personal income-tax mopup outpaced corporation tax
 "Net direct tax collection rises 22.5% to Rs 6.93 trillion till Aug 11")
Union Budget 2024-25: Emphasis on bringing simplicity in direct tax system
Tax proposals aim to bring in uniformity, improve compliance and reduce litigation
 "Union Budget 2024-25: Emphasis on bringing simplicity in direct tax system")
