There is a shortage in the government treasury!
Gross Direct Tax Collections: While the exit poll results of Bihar Assembly elections have raised the political temperature, a big and positive news has also come from the country’s economy front for the government. On one hand, many exit polls are predicting NDA to get a clear majority in Bihar, on the other hand, a tremendous increase has been recorded in the government’s treasury.
According to government data, the country’s net direct tax collection has increased by 7% in this financial year till November 10. The total income of the government during this period has been ₹ 12.92 lakh crore. On the economic front, this strength shows that economic activities in the country are on track and the income of the companies as well as the common people is also increasing.
Data on Gross Direct Tax Collections, Refunds and Net Direct Tax Collections for FY 2025-26 as on 10.11.2025 has been released.
The data is available on the national website of Income Tax Department at the following link:https://t.co/PJqfjrYJeL pic.twitter.com/fdJZjDbka5
— Income Tax India (@IncomeTaxIndia) November 11, 2025
Both corporate and personal taxes strengthened
There are two big reasons behind this spectacular increase. First, the corporate tax received from companies has increased. It has increased to ₹5.37 lakh crore as compared to ₹5.08 lakh crore last year. Whereas non-corporate tax, which includes personal income tax and Hindu Undivided Families (HUF) tax, has increased from ₹6.62 lakh crore to ₹7.19 lakh crore.
This time there was delay in issuing refunds
However, there is an interesting aspect to this whole picture. This time the government has slowed down the pace of giving tax refunds. According to the data, refunds worth ₹2.42 lakh crore were issued during this period, which is 18% less than last year. Due to this reduction in refunds, the ‘net’ collection of the government seems to have increased. If we look at the total earnings (gross collection) before deducting refunds, it was ₹ 15.35 lakh crore, which is 2.15% more than last year.
Income from stock market is stable
The earnings from the stock market, i.e. Securities Transaction Tax (STT) remained almost stable. It declined marginally to ₹35,682 crore from ₹35,923 crore, indicating market trading in a range. Rohinton Sidhwa, tax expert and partner at Deloitte India, says it is remarkable to see that personal tax collections have remained strong despite significant cuts in tax rates last year. This shows better level of income. However, he believes the sharp decline in refunds could mean that either some taxpayers are no longer in the tax net, or the government has deliberately controlled the pace of refunds.