Data Alert
India Apr 1-Jun 19 net direct tax mop-up dn 1.4% as refunds jump
This story was originally published at 09:00 IST on 21 June 2025
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NEW DELHI – The government's net direct tax collections for Apr. 1-Jun. 19 were down 1.4% on year at INR 4.588 trillion due to a sharp rise in issuing refunds, data released by the finance ministry on Saturday showed.
While corporate tax collections were 5.1% lower at INR 1.728 trillion, non-corporate tax collections were up only 0.7% on year at INR 2.727 trillion, the ministry said. Non-corporate tax includes taxes paid by individuals, Hindu Undivided Families, firms, associations of persons, bodies of individuals, local authorities, and artificial juridical persons.
The Securities Transaction Tax mop-up, meanwhile, was 12.1% higher at INR 130.13 billion, the release said. The gross direct collections during the period rose 4.9% on year to INR 5.452 trillion. The government issued tax refunds worth INR 863.85 billion during Apr. 1-Jun. 19, up 58% from a year ago.
The government has projected its total tax collections in 2025-26 (Apr-Mar) to be 10.8% higher on year at INR 42.702 trillion. Of this, the government aims to collect INR 25.20 trillion as direct taxes, up 12.7% on year. Till Jun. 19, the government has collected 18% of its direct tax target. The government aims to collect INR 780 billion from Securities Transaction Tax in FY26.
Advance tax collections, an indicator of corporate profitability and individual incomes, rose 3.9% on year to INR 1.555 trillion during Apr. 1-to Jun. 19. Advance tax is paid in four instalments -- in the middle of June, September, December, and March. End
Reported by Priyasmita Dutta
Edited by Tanima Banerjee
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