Net direct tax mopup dips 1.34% to ₹5.63 trillion on higher refunds

Total net collections stood at Rs 5.63 lakh crore, registering a decline of 1.34 per cent over Rs 5.70 lakh crore collected in the year-ago period

Net direct tax collection fell 1.34 per cent to about Rs 5.63 trillion till July 10 of the current financial year, mainly on account on higher refunds, according to government data released on Friday.

Net corporate tax collection stood around Rs 2 trillion, while non-corporate tax (which includes individuals, HUFs and firms) was at Rs 3.45 trillion. Securities transaction tax mop-up was Rs 17,874 crore between April 1 and July 10.

Total net collections stood at Rs 5.63 trillion, registering a decline of 1.34 per cent over Rs 5.70 trillion collected in the year-ago period.

Net refunds issued so far this fiscal year jumped 38 per cent to Rs 1.02 trillion.

 

Gross collections (before refunds) stood at Rs 6.65 trillion from April 1-July 10, posting a 3.17 per cent growth over Rs 6.44 trillion in the year-ago period.

In the current fiscal year, the government has projected its direct tax collections at Rs 25.20 trillion, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.