Refunds up 24% as gross direct tax collection reaches ₹16.03 lakh crore

The latest data from the Income Tax Department show that gross direct tax collection for the current FY has risen to ₹16.03 lakh crore, a 14.89 percent rise over the previous year’s ₹13.95 lakh crore.

Refunds granted to taxpayers climbed 24.22 percent, moving from ₹2.13 lakh crore to ₹2.65 lakh crore. The increase reflects higher tax payments across the board and a more robust compliance environment.

On a gross basis, corporate tax receipts jumped to ₹7.53 lakh crore from ₹6.44 lakh crore, while non‑corporate tax revenue grew to ₹8.03 lakh crore from ₹7.20 lakh crore.

Gross STT receipts matched the net figure at ₹46,840.43 crore, reaffirming the strong activity in capital markets.