India’s direct tax collections have shown a robust growth trajectory in the first half of the fiscal year, according to a government statement released on Thursday. From April 1 to September 17, net direct tax revenues surged by over 9% year-on-year, reaching 10.8 trillion rupees. On a gross basis, which includes both corporate and personal taxes, collections climbed by more than 3% to 12.4 trillion rupees during the same period. The income tax department highlighted that this growth reflects the country’s economic resilience and improved tax compliance. Additionally, the government issued tax refunds amounting to 1.6 trillion rupees, marking a 24% decline compared to the previous year. This reduction in refunds suggests a more efficient tax administration and tighter fiscal management. The data underscores India’s ongoing economic recovery and its ability to sustain revenue growth despite global uncertainties.
