Direct Tax Collections

CBDT confident of meeting FY26 tax target; refund checks slowing outflows

Chairman Ravi Agarwal says the department expects to meet its ₹25.2 trillion direct tax goal for FY26, with refunds slowing due to verification of incorrect claims and a dip in filings this year

Refunds account for 17.6% of India's gross tax collections in FY25

Tax refunds in FY25 accounted for 17.6% of gross collections, a sharp rise from FY14. The average time to process refunds dropped to 17 days in 2024, compared to 93 days in 2013

Net direct tax collection dips 1.39% to Rs 4.59 trillion in Apr-Jun

Net direct tax collection so far this fiscal stood at Rs 4.59 lakh crore, 1.39 per cent lower compared to the mop-up during the corresponding period of last fiscal, as advance tax collections slowed, government data released on Sunday showed. Advance tax collection during April 1-June 19, 2025 grew a meagre 3.87 per cent to Rs 1.56 lakh crore. In the comparable period in 2024, advance tax collection had recorded an annual growth of 27 per cent. During April 1-June 19, 2025, corporate tax collection witnessed a slowdown at about Rs 1.73 lakh crore, a decline of over 5 per cent year on year. Non-corporate tax collections, which include mainly personal income tax, however, recorded a slight increase of 0.7 per cent to Rs 2.73 lakh crore. Securities Transaction Tax (STT) grew 12 per cent to Rs 13,013 crore during the period. Overall, the net direct tax collection kitty stood at about Rs 4.59 lakh crore during April 1-June 19, 2025, registering a 1.39 per cent dip from Rs 4.65 lakh cror

Net direct tax collections rise 13% to Rs 21.3 trn till March 16 of FY25

Advance tax collections jump 14.6% during the period

Net direct tax kitty swells 16% to Rs 16.9 trillion so far in FY25

The net direct tax collection grew 15.88 per cent to about Rs 16.90 lakh crore so far this fiscal, according to government data released on Monday. As per the data by the Central Board of Direct Taxes (CBDT), mop-up from net non-corporate taxes, which include mainly personal income tax, stood at over Rs 8.74 lakh crore. The net corporate tax collection between April 1, 2024, and January 12, 2025, was around Rs 7.68 lakh crore. Net collections from securities transaction tax (STT) stood at Rs 44,538 crore so far this fiscal. Refunds worth over Rs 3.74 lakh crore were issued during the period, a 42.49 per cent increase over the year-ago period. Gross direct tax mop up between April 1 and January 12 grew 20 per cent to over Rs 20.64 lakh crore. The government has budgeted to collect Rs 22.07 lakh crore in the current fiscal from direct taxes. This includes Corporate tax collection of Rs 10.20 lakh crore, personal income tax and other taxes of Rs 11.87 lakh crore.

Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief

The government will exceed the Rs 22.07 lakh crore direct tax collection target set for the current fiscal, Central Board of Direct Taxes (CBDT) chairman Ravi Agarwal said on Monday. Agarwal also said that taxpayers who have not disclosed their foreign income or assets in their ITRs have time till December 31 to file their revised return for the 2023-24 fiscal. The tax department is in the process of sending SMS and emails to those assessees who have not disclosed high-value assets. Inaugurating the Taxpayers Lounge at the India International Trade Fair (IITF), Agarwal also said that more than 6,000 suggestions have come in for a review of the income tax law to make the language simple and easy to understand. "We are hopeful and we believe that we will exceed the budget target for tax collection. Collections from corporate and non-corporate taxes have risen," Agarwal told reporters here. As per the latest tax collection data released by the CBDT, between April 1 to November 10, net

Net direct tax collection rises 22.5% to Rs 6.93 trillion till Aug 11

Of the total direct tax mop-up, personal income tax (PIT) continues to outpace corporation income tax (CIT)

Direct tax collections jump 24% to Rs 8.13 trn in April-Aug: Govt

Net direct tax collections, after adjusting for refunds, was Rs 6.93 trillion during the period, about 22.5 per cent higher than last year

Net direct tax collections grew 9.8% to Rs 4.62 trillion till mid-June

Of the total tax collected until June 16, corporation tax accounted for Rs 1.81 trillion, while personal income tax (I-T) stood at Rs 2.69 trillion

Net direct tax collection surpasses RE in FY24; corp tax receipts a miss

Exceeds estimates by 0.7% to hit Rs 19.58 trn

Direct tax collections stand at 80% of revised estimates till Feb 10

Growth in both corporation tax and personal income tax was more than the asking rate under RE

India's direct tax mop-up in FY24 rises 16% to Rs 4.75 trillion so far

"The provisional figure is 26.05 per cent of the total Budget Estimates of direct taxes for the current financial year 2024, " the ministry said

Net direct tax mop-up grows 16% to Rs 4.75 trillion: I-T department

Net direct tax kitty swelled 16 per cent to Rs 4.75 lakh crore so far this fiscal, a reflection of economic activity gaining traction. The Income Tax department in a statement said the collection has touched 26.05 per cent of the total budget estimates of direct taxes for full 2023-24 fiscal of Rs 18.23 lakh crore. "Direct Tax collection, net of refunds, stands at Rs 4.75 lakh crore which is 15.87 per cent higher than the net collections for the corresponding period of last year. Refunds amounting to Rs 42,000 crore have been issued during April 1- July 9, 2023, which are 2.55 per cent higher than refunds issued during the same period in the preceding year. On a gross basis, collection from direct taxes, which includes income and corporate taxes, grew 14.65 per cent to Rs 5.17 lakh crore. The 2023-24 budget has pegged direct tax collection at a little over Rs 18.23 lakh crore, a 9.75 per cent higher than Rs 16.61 lakh crore mopped up last fiscal.

India's net direct tax collection till June 15 in Q1FY24 up 11.5%

This is led by rise in advance tax payment, TDS collection

RBI permits Karnataka Bank to collect direct, indirect taxes for CBDT, CBIC

The Reserve Bank of India has authorised private sector lender Karnataka Bank to collect direct and indirect taxes on behalf of CBDT and CBIC. This has been done on the recommendation from the Controller General of Accounts (CGA), Ministry of Finance, Karnataka Bank said in a regulatory filing on Tuesday. Bank customers are already enjoying seamless online payments for custom duty by selecting Karnataka Bank in the Indian Customs Electronic Gateway 'ICEGATE' portal of CBIC, it added. The (ICEGA TE) portal of the Central Board for Indirect Taxes and Customs (CBIC) provides e-filing services to the trade, cargo carriers and other trading partners electronically, the statement said.

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Advance tax mop-up grew 13% in April-Dec period to Rs 5.21 trillion

Net direct tax collection has grown 19% to over Rs 11.35 trillion

Direct tax collection up 24% to Rs 8.77 trn; nears 62% of Budget estimates

The net direct tax collection grew 24 per cent to Rs 8.77 lakh crore in the April-November of the current fiscal, the Finance Ministry said on Monday. This represents 61.79 per cent of the full-year Budget Estimates (BE) of direct tax collection for 2022-23 (April-March). "Direct tax collection net of refund stands at Rs 8.77 lakh crore as of November 30, which is 24.26 per cent higher than the net collection for the corresponding period last year," the ministry tweeted. The collection accounts for 61.79 per cent of Budget Estimates for FY 2022-23. The Budget estimated direct tax collection at Rs 14.20 lakh crore this fiscal, higher than Rs 14.10 lakh crore collected last fiscal (2021-22). Tax on corporate and individual income makes up for direct taxes. Tax collection is an indicator of economic activity in any country. The collection from the levy of tax on goods and services sold (GST) has flattened to around Rs 1.45-1.50 lakh crore per month. Refunds amounting to Rs 2.15 lak

Tax collections to cross budget estimates in current fiscal, says govt

Revenue Secretary Tarun Bajaj was quoted as saying that the growth in tax revenues will continue to be higher than the GDP growth, owing to better compliance