Net direct tax mop-up falls nearly 4% to ₹6.64 lakh crore this fiscal on higher refunds

Net direct tax collection dipped 3.95% to ₹6.64 lakh crore so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday (August 12, 2025).

Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.

Net corporate tax collection stood at about ₹2.29 lakh crore, while non-corporate tax (which includes individuals, Hindu Undivided Families (HUFs) and firms) was at ₹4.12 lakh crore. Securities Transaction Tax (STT) mop-up was ₹22,362 crore between April 1-August 11.

Total net collections stood at about ₹6.64 lakh crore, a 3.95% fall over ₹6.91 lakh crore collected in the same period last fiscal (2024-25).

Refunds issued so far this fiscal jumped 10% to ₹1.35 lakh crore.

Gross collections (before refunds) stood at ₹7.99 lakh crore between April 1-August 11, a 1.87% dip over ₹8.14 lakh crore in the year-ago period.

In the current fiscal (2025-26), the government has projected its direct tax collection at ₹25.20 lakh crore, up 12.7% year-on-year. The government aims to collect ₹78,000 crore from STT in FY26.