Data Alert
India Apr 1-Jul 10 net direct tax mop-up dn 1.3% on high refunds
This story was originally published at 20:47 IST on 11 July 2025
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--Govt: Apr 1-Jul 10 gross direct tax collection INR 6.65 tln, up 3.2%
--Govt: Apr 1-Jul 10 net direct tax collection INR 5.63 tln, down 1.3%
--Govt: Apr 1-Jul 10 direct tax refunds INR 1.02 tln, up 38.0%
--Govt: Apr 1-Jul 10 gross corporate tax collection INR 2.90 tln, up 9.4%
--Govt: Apr 1-Jul 10 STT collection INR 178.74 bln, up 7.5%
NEW DELHI – The government's net direct tax collections for Apr. 1-Jul. 10 were down 1.3% on year at INR 5.628 trillion because of a sharp rise in refunds issued, data released Friday by the finance ministry showed. Net direct tax collections so far account for 22.3% of the Budget target of INR 25.20 trillion for the current financial year.
On a gross basis, the government collected INR 6.648 trillion, up 3.2% on year. The government has issued refunds worth INR 1.020 trillion this year as of Thursday, 38.0% higher than a year ago.
Gross corporate tax collections rose 9.4% on year to INR 2.898 trillion and non-corporate tax collections were down 1.3% on year at INR 3.569 trillion. 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 government has projected FY26 total tax collections at INR 42.702 trillion, up 10.8% higher on year. Of this, it aims to collect INR 25.20 trillion as direct taxes, 12.7% higher than FY25. The government aims to collect INR 780 billion from Securities Transaction Tax in FY26. It has collected Securities Transaction Tax worth INR 178.74 billion till Thursday, up 7.5% on year. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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