Daijiworld Media Network - New Delhi

New Delhi, Oct 13: India’s net direct tax revenue surged 6.33% year-on-year to Rs 11.89 lac crore in the current financial year up to October 12, the Income Tax Department announced on Monday, marking steady progress toward the government’s ambitious Rs 25.20 lac crore collection target for FY 2025–26.

The gross direct tax collections touched Rs 13.92 lac crore, an increase from Rs 13.60 lac crore collected during the same period last year. This uptick was largely powered by improved corporate tax inflows and reduced outgoings in tax refunds.

Refund payouts fell sharply by 16% to Rs 2.03 lac crore, compared to Rs 2.41 lac crore issued during the corresponding period in FY25. Lower refund levels contributed significantly to the rise in net collection

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