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Net direct tax collection grow 7% as refunds fall sharply

November, 13th 2025
Net direct tax collections grew by 7% in this financial year up to November 10, largely driven by a significant contraction in the refunds paid out by the Income Tax Department during this period, official data shows. The direct tax collections data, released by the Income Tax Department on Tuesday, shows that gross collections grew 2.15% to ₹15.35 lakh crore in this financial year up to November 11. Within this, gross corporate tax collections grew 4.6% to ₹6.9 lakh crore. Gross non-corporate tax — which includes personal income tax — grew 0.5% during this period to ₹8.1 lakh crore. “The data shows that, remarkably, non-corporate tax collections have kept pace in spite of the very significant rate cut last year,” Rohinton Sidhwa, Partner at Deloitte India said. “This is a very good sign showing stronger growth of income levels.” Total refunds were 17.7% lower this year than in the corresponding period of last year. According to Mr. Sidhwa, the fact that refunds have fallen significantly could either mean that tax payers that used to pay taxes in cash are no longer in the tax net or that the Government has “consciously throttled back” on refunds. As a result of the drop in refunds, net collections grew 7% to ₹12.9 lakh crore in this financial year up to November 11. Within this, net corporate tax collections grew 5.7% and net non-corporate tax collections grew 8.7% during this period.