India’s net direct tax collections jump 23 per cent to Rs 8.11 lakh crore
New Delhi, Aug 11 (IANS) India’s net direct tax collections recorded a robust 23.09 per cent increase to Rs 8.11 lakh crore as of August 10 in the current financial year compared to the same period of 2025-26, according to government data released on Tuesday.
Gross direct tax collections clocked a double-digit 19.75 per cent increase to Rs 9.55 lakh crore during this period, while refunds issued stood at Rs 1.43 lakh crore, up 3.79 per cent from the same period of the previous year.
Total direct tax collections before refunds increased by Rs 1.57 lakh crore from Rs 7.97 lakh crore as of August 10 last year.
Net corporate tax collections rose to Rs 2.70 lakh crore from Rs 2.26 lakh crore a year earlier, while net non-corporate tax collections increased to Rs 5.07 lakh crore from Rs 4.11 lakh crore.
Net collections from the Securities Transaction Tax (STT) rose to Rs 33,823.74 crore, compared to the corresponding figure of Rs 22,354.31 crore in the same period of the previous year.
Gross corporate tax collections increased to Rs 3.80 lakh crore from Rs 3.32 lakh crore in the year-ago period. Gross non-corporate tax collections rose to Rs 5.41 lakh crore from Rs 4.43 lakh crore, while gross STT collections stood at Rs 33,823.74 crore, up from Rs 22,354.31 crore.
Gross collections under other taxes stood at Rs 14.33 crore, compared with Rs 282.96 crore in the same period last year.
The figures include taxes paid by companies as well as individuals, Hindu Undivided Families (HUFs), firms, associations of persons, bodies of individuals, local authorities, and artificial juridical persons.
Meanwhile, India’s fiscal deficit was estimated at Rs 3.1 lakh crore during the first quarter (April-June) of the current financial year, which works out to 18.2 per cent of the full-year budget estimate, according to data released by the Controller General of Accounts (CGA) on July 31.
The fiscal gap was higher than the Rs 2.8 lakh crore recorded during the April-June period of the previous financial year, showing increased government spending even as revenue collections remained robust.
For FY27, the Centre has budgeted a fiscal deficit of Rs 16.96 lakh crore, equivalent to 4.3 per cent of the country’s gross domestic product (GDP), along a declining glide path as part of the fiscal consolidation process.
Net tax receipts during the April-June quarter recorded a robust increase to Rs 6.4 lakh crore from Rs 5.4 lakh crore in the corresponding period last year, indicating sustained growth in direct and indirect tax inflows despite global economic uncertainties.
–IANS
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