The central government established an annual direct tax collection target of Rs 26.97 lakh crore, requiring a 15 percent overall expansion over the preceding fiscal period. Sustained revenue momentum was supported by a 17.84 percent surge in net corporate receipts and a major expansion in market levies. Meanwhile, total tax refunds advanced by nearly 26 percent to touch Rs 3.08 lakh crore, tempering gross collections that had climbed to Rs 17.50 lakh crore.
Key points
Net direct tax collections have satisfied about 53 percent of the government's full-year…: Net direct tax collections have satisfied about 53 percent of the government's full-year fiscal budget target of Rs 26.97 lakh crore.
Net corporate tax revenue demonstrated healthy momentum by climbing over 17 percent to Rs…: Net corporate tax revenue demonstrated healthy momentum by climbing over 17 percent to Rs 6.32 lakh crore.
Substantial direct tax inflows continue to offset significant year-on-year increases in i…: Substantial direct tax inflows continue to offset significant year-on-year increases in issued refund disbursements.
Sources checked by our analysis pipeline: 1
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The data showed that net direct tax collections rose to Rs 14.42 lakh crore from Rs 12.90 lakh crore during the corresponding period of the previous financial year.
Gross direct tax collections, which represent tax receipts before adjusting for refunds, increased 14.02 per cent to Rs 17.50 lakh crore, compared to Rs 15.35 lakh crore during the same period last year.
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Meanwhile, net corporate tax collections increased to Rs 6.32 lakh crore from Rs 5.36 lakh crore in the corresponding period last year, registering a growth of approximately 17.84 per cent.
Securities Transaction Tax (STT) collections also recorded a sharp increase of approximately 51.56 per cent to Rs 54,077.90 crore, compared to Rs 35,681.88 crore in the year-ago period.
Also Read | India's net direct tax collections rise 13.21% to Rs 13.38 lakh crore till October 14 of FY27
Direct tax refunds increased by nearly 26 per cent to Rs 3.08 lakh crore during the current financial year till…
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