 "Income Tax Bill, Income Tax")
Net direct tax collection dipped 3.95 per cent to Rs 6.64 trillion so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday.
Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.
Net corporate tax collection stood at about Rs 2.29 trillion, while non-corporate tax (which includes individuals, Hindu Undivided Families (HUFs) and firms) was at Rs 4.12 trillion. Securities Transaction Tax (STT) mop-up was Rs 22,362 crore between April 1-August 11.
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).
Refunds issued so far this fiscal jumped 10 per cent to Rs 1.35 trillion.
Gross collections (before refunds) stood at Rs 7.99 trillion between April 1-August 11, a 1.87 per cent dip over Rs 8.14 trillion in the year-ago period.
In the current fiscal (2025-26), the government has projected its direct tax collection 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.
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 "Income Tax Bill, Income Tax")
 "RBI, Reserve Bank of India")
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 "New Delhi: Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Winter session of Parliament, in New Delhi, Tuesday, Dec 17, 2024 (PTI Photo)")
