Current financial year As of July 10, the net direct tax collection declined by 1.34 percent to about Rs 5.63 lakh crore. Tax collection has declined mainly due to more refunds. This information was received from the government data released on Friday. Net company tax collection fell by 3.67 percent to about Rs 2 lakh crore, which was Rs 2.07 lakh crore in the same period last year. Non-Company Tax (including personal, HUF and firm) was Rs 3.45 lakh crore. Security Transaction Tax Collection was Rs 17,874 crore between April 1 and July 10. During this period, the total net collection of the country was Rs 5.63 lakh crore, which is 1.34 percent less than Rs 5.70 lakh crore in the same period last year.
38 percent huge increase in net refund
The net refund released so far in the current financial year (2025-26) increased by 38 percent to Rs 1.02 lakh crore. From April 1 to July 10, the gross collection (before the refund) stood at Rs 6.65 lakh crore, which is 3.17 percent more than Rs 6.44 lakh crore in the same period last year. The gross company tax collection increased by 9.42 percent to about Rs 2.90 lakh crore by June 10, while the gross non-company tax collection declined by 1.28 percent to Rs 3.57 lakh crore.
22.34 percent of the target of direct tax collection came to the government’s account
Gauri Puri, partner of Shardul Amarchand Mangaldas & Company, said that the reduction in net direct tax collection is primarily a huge increase in tax refund. Puri said, “This shows the government’s focus on taxpayers on the improvement in service. Timely and efficient returns increase business ease.” In the current financial year, the government has estimated the direct tax collection to be Rs 25.20 lakh crore, which is 12.7 percent more than the previous year. The government’s target is to raise Rs 78,000 crore from Security Transaction Tax (STT) in the current financial year. The government has raised up to 22.34 percent of the target of direct tax collection till 10 July.
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