News

India’s net direct tax collection declined by 1.34 per cent year-on-year, amounting to Rs 5,62,827 crore in the current financial year up to July 10, 2025, according to data released by the Income Tax Department on Friday.

Gross direct tax collections rose by 3.17 per cent to Rs 6,64,807 crore during the period from April 1 to July 10, 2025. This figure includes Rs 2,89,773 crore from corporate taxes, Rs 3,56,887 crore from non-corporate taxes, and Rs 17,874 crore from securities transaction tax.

In comparison, gross collections during the same period last year stood at Rs 6,44,375 crore, with net collections of Rs 5,70,483 crore after accounting for refunds.

In June, the government reported a marginal decline of 1.39 per cent in net direct tax collection, which fell to Rs 4,58,822 crore, compared to Rs 4,65,275 crore during the same period last year.

Also Read: RBI fines HDFC Bank, Shriram Finance for violating certain norms

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.