Direct Tax Collections Soar to Rs 19.43 Lakh Crore, Up 9.4% YoY by Feb 10

• Net direct tax collections reached Rs 19.43 lakh crore by February 10, marking a 9.4% year-on-year increase.
• Net corporate tax collections rose by 14.5% to Rs 8.89 lakh crore, while non-corporate tax collections increased by 5.9% to Rs 10.03 lakh crore.
• Refunds totaled Rs 3.34 lakh crore, an 18.82% decrease compared to the same period last fiscal year.
• The decline in refunds is attributed to structural and procedural changes, including improved return-filing behavior and system validations.
• Compliance nudges by CBDT Chairman Ravi Agarwal led to an additional tax implication of about Rs 9,640 crore.