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Direct tax refunds down 17%
Financial Express Lucknow
|January 26, 2026
AMID A DIP in tax collections relative to the Budget Estimates, refunds of direct taxes have slowed.
According to data from the Central Board of Direct Taxes (CBDT), the government issued direct tax refunds of $3.11 lakh crore as of January 11 in the current financial year, compared with $3.75 lakh crore during the corresponding period last year, marking a year-on-year contraction of 16.92%.
The decline in refunds was particularly sharp in the non-corporate segment, which fell 25% to $1.71 lakh crore, while corporate tax refunds declined 10% to $1.83 lakh crore as of January 11 in FY26.
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