Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Direct tax collections dip 3.95% due to rise in refunds
The Business Guardian
|August 13, 2025
In contrast, non-corporate tax collections dropped 7.5 per cent to Rs 4.12 lakh crore, indicating slower income growth or deferred payments from smaller businesses and individuals.
India's net direct tax collections for FY 2025-26 stood at Rs 6.64 lakh crore as on August 11, down 3.95 per cent from Rs 6.91 lakh crore collected during the same period last year, Income Tax Department data shows.
The data suggests that a rise in the tax refund was the major reason behind the decline.
Refunds rose nearly 10 per cent year-on-year to Rs 1.35 lakh crore, with corporate refunds climbing 21 per cent to over Rs 1.03 lakh crore, partly offsetting gross gains.
This story is from the August 13, 2025 edition of The Business Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Business Guardian
The Business Guardian
Global energy demand surge needs investment: Al Jaber
Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Managing Director and Group CEO of ADNOC, on Tuesday said reliable partnerships are the real strategic reserve, urging leaders to look beyond short-term volatility to the transformative opportunity of rising global energy demand, a release said.
2 mins
January 28, 2026
The Business Guardian
Woman alleges food poisoning at five-star hotel; police probe underway
A woman has alleged that her food was poisoned at a five-star hotel in Delhi, prompting the registration of an FIR at a police station, officials said.
1 mins
January 28, 2026
The Business Guardian
INDIA INC WELCOMES INDIA-EU TRADE DEAL
In a statement, Chandrajit Banerjee, Director General of the Confederation of Indian Industry (CII), said CII applauded the India-EU FTA announced today.
2 mins
January 28, 2026
The Business Guardian
INDIA NEARS 20% ETHANOL BLENDING, BOOSTS FARMER INCOME
India achieved nearly 20% ethanol blending in Ethanol Supply Year (ESY) 2025, resulting in foreign exchange savings of approximately USD 19.3 billion and direct payments exceeding USD 15 billion to farmers over the last decade, said Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, on Tuesday.
2 mins
January 28, 2026
The Business Guardian
Dr. Yojna Sah Jain on music, migration, and the idea of belonging
Q Your new song Man Jan Gan Man Gayega has just been released and is being described as one of the first compositions centered on NRI patriotism.
1 mins
January 28, 2026
The Business Guardian
GUT HEALTH: NOURISH YOUR GUT, TRANSFORM YOUR
The gut, often referred to as the “second brain,” plays a pivotal role in overall health and wellbeing.
3 mins
January 28, 2026
The Business Guardian
AICC general secretary Venugopal presides over SSA states review
All India Congress Committee (AICC) General Secretary KC Venugopal presided over a detailed review meeting at Indira Bhawan with General Secretaries, In-charges and PCC Presidents from the Sangathan Srijan Abhiyan (SSA) states.
1 min
January 28, 2026
The Business Guardian
Delhi Govt launches Credit Guarantee Scheme to boost small businesses
A major move to bolster micro and small enterprises (MSEs) in the national capital, the Delhi Government on Tuesday signed a Memorandum of Understanding (MoU) with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to roll out the Delhi Credit Guarantee Scheme.
2 mins
January 28, 2026
The Business Guardian
European companies bullish on India investment prospects
Over 95 per cent of EU businesses in India plan to expand their operations in India in the next five years, according to a survey conducted by the Federation of European Business in India (FEBI).
2 mins
January 28, 2026
The Business Guardian
Dhami diverting attention from the real issues: Cong over banning non-Hindus’ entry into temples
Chief Minister Pushkar Singh Dhami’s statement regarding a ban on non-Hindus in religious places in Uttarakhand has escalated into a major controversy.
1 min
January 28, 2026
Listen
Translate
Change font size