According to the data, the gross direct tax collection in the current fiscal year (FY 20252-6) as on June 19 increased by almost 5 per cent year-on-year to surpass 5.45 lakh crore, the Central Board of Direct Taxes (CBDT) said in data released over the weekend. The net tax revenues, however, decreased by 1.4 percent to 4.59 lakh crore in the period. This is attributed to a huge growth in refunds.
More than 58% (₹86,385.31 crore) of the refunds issued were recorded between 1 April and 19 June 2024, which was an increase compared to the same period (54,660.79 crore) of the previous FY 2024-25. The CBDT credited this surge to improvement in the service to taxpayers and the faster delivery of the refund, particularly in the corporate taxpayers segment.
The statistics showed that corporate tax (CT) refunds increased significantly by 67.3 per cent to 76,832.08 crore in the first 3 quarters of FY26, as compared to 45,921.22 crore in the same quarters of FY25. On the other hand, the refunds during non-corporate tax (NCT), which mainly include individual tax, HUF, and other transactions, increased by a marginal amount of 9.44 percent to 9,551.11 crore.
The collection of gross corporate tax so far in FY26 improved by 9.45 percent to 2,49,672.09 crore. But after the deduction of the refunds, the net corporate tax decreased by 5.4 percent to 1,72,840.01 crore in FY25 as compared to 1,82,188.70 crore in FY25. There was marginal growth in most of the aspects of Gross NCT collection, about less than 1 per cent, at 282,262.41 crores. The net NCT increased marginally by 0.77 per cent to 2,72,711.30 crore as there were lower refunds on this segment.
Collection of advance tax within the same period increased by 3.87 percent, amounting to 1.56 lakh crore. Corporate advance tax was up by 5.86%, and the non-corporate advance tax was down by 2.68%, which is a mixed story on early direct tax collections.
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