&w=3840&q=100)
Net direct tax mop-up falls nearly 4% to ₹6.64 trn in FY26 on high refunds
Press Trust of India New Delhi
Net direct tax collection dipped 3.95 per cent to Rs 6.64 trillion so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday.
Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.
Net corporate tax collection stood at about Rs 2.29 trillion, while non-corporate tax (which includes individuals, Hindu Undivided Families (HUFs) and firms) was at Rs 4.12 trillion. Securities Transaction Tax (STT) mop-up was Rs 22,362 crore between April 1-August 11.
Total net collections stood at about Rs 6.64 trillion, a 3.95 per cent fall over Rs 6.91 trillion collected in the same period last fiscal (2024-25).
Refunds issued so far this fiscal jumped 10 per cent to Rs 1.35 trillion.
Gross collections (before refunds) stood at Rs 7.99 trillion between April 1-August 11, a 1.87 per cent dip over Rs 8.14 trillion in the year-ago period.
In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 trillion, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
16 minutes ago
- Deccan Herald
PixxelSpace-led consortium to build first Indian private earth observation satellite constellation
The consortium led by PixxelSpace will spend Rs 1,200 crore to build 12 satellites in the next five years, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) said.
Time of India
16 minutes ago
- Time of India
Pixxel-led consortium bags L1 bid in India's first EO-PPP, Rs 1,200 crore project
Academy Empower your mind, elevate your skills In a first for India's space ecosystem, Bengaluru-based space startup Pixxel and its partners Piersight Space Satsure Analytics , and Dhruva Space have won the bid to design, build, and operate the country's first fully indigenous commercial earth observation (EO) satellite constellation under the Indian National Space Promotion and Authorisation Centre's (IN-SPACe) public-private partnership (EO-PPP) programme will help reduce India's reliance on foreign sources and ensure data space promoter-cum-regulator on Tuesday said three consortia were shortlisted after rigorous technical evaluation: Astra Microwave Products with Bharat Electronics, Sisir Radar and Spectragaze Systems, and GalaxEye Space with CoreEL and PixxelSpace , along with its other three Pixxel consortium emerged as the lowest bidder (L1), surpassing the other two by a wide margin. PierSight's cofounder Vinit Bansal confirmed the same without revealing the exact amount of the bid. Pixxel's founder Awais Ahmed declined to disclose the consortium's exact bid a response to an ET query, GalaxEye founder Suyash Singh, part of the selected consortium, confirmed that their bid value was Rs 97 crore. Singh said GalaxEye, which is gearing up for the maiden launch of its EO Drishit satellite, was proud to be the youngest company to lead a consortium and qualify the next four years, the winning team will invest more than Rs 1,200 crore to deploy 12 satellites carrying optical, hyperspectral, and synthetic aperture radar (SAR) sensors. These will provide high-resolution data for agriculture, urban planning, disaster management, climate monitoring, and national security.'Once operational, it will be among the most advanced EO systems in the world, designed, built, and operated entirely in India by Indian talent,' IN-SPACe said in a statement. The EO constellation will be deployed in a phased manner to ensure continuous service upgrades and expanded winning Pixxel-led consortium brings together complementary strengths. 'This PPP is about outcomes and execution speed. Our modular, software-defined radar electronics and deployable antenna heritage let us iterate quickly and align to IN‑SPACe's phased milestones,' Ahmedabad-based PierSight's Bansal known for its hyperspectral imaging expertise, will spearhead satellite design and integration. SatSure will contribute with its knowledge in geospatial analytics and value-added services for sectors such as agriculture and infrastructure, while Dhruva Space will provide its expertise in satellite platform and ground segment solutions.'Operated on a satellite-as-a-service model, the programme will provide guaranteed national access to advanced EO data while leveraging private-sector agility to deliver it at scale,' the winning consortium said in a Goenka, chairman, IN-SPACe, said the initiative signals the coming of age of India's private space industry in the space sector. 'It demonstrates the capability and confidence of Indian companies to lead large-scale, technologically advanced, and commercially viable space missions that serve both national and global markets.'As per a report by market research consulting firm Modor Intelligence, the global EO market is projected to grow from $4.3 billion in 2025 to $5.9 billion by 2030. India's push for EO capability through the EO-PPP aligns with its broader ambitions to scale its space economy from $8.4 billion to $44 billion by 2033.
Time of India
31 minutes ago
- Time of India
City to get state-of-the-art old age home
Hubballi: The city will soon house an advanced old age home, planned by Sri Shirdi Sai Sadbhakta Mandali. Speaking to the reporters here on Tuesday, Mandali president Mahadev Mashal said that the management board has decided to set up a state-of-the-art model old age home in Kuruvinakoppa village of Kalaghatagi taluk. For this, an old age house development committee comprising 16 people has been formed. The members of the committee are eminent personalities of the state who are already involved in social services. "We are committed to working to make it the number one model old age home in the country," he said. Engineer B Mahesh said that the old age home buildings will have a total of 9 floors and will include ICU and ambulance services along with doctors. He said that this old age home will be built at a total cost of Rs 20 crore. Committee member Braj Mohan Bhutada said that the home can accommodate around 500 people. Those who were evicted from their homes and elderly people living alone will be accommodated. He said that donations are tax-exempted and can made through the website Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
