India's Direct Tax Collection Soars 8% to Rs 17.04 Lakh Crore, Corporate Tax Drives Growth

• India's net direct tax collection surged 8% to Rs 17.04 lakh crore in the current fiscal year, primarily fueled by a robust corporate tax mop-up.
• Net corporate tax collection reached Rs 8.17 lakh crore, an increase from Rs 7.39 lakh crore in the same period last year.
• Refund issuances decreased by 13.52% to Rs 2.97 lakh crore, attributed by experts to increased screening of fraudulent claims.
• Non-corporate tax collection, including from individuals and HUFs, also saw a rise to Rs 8.46 lakh crore.
• Gross direct tax collection before refunds stood at over Rs 20.01 lakh crore, showing a 4.16% growth.

Why It Matters: Strong corporate tax collection and reduced refunds boost India's direct tax revenue significantly.