India’s net direct tax collections declined slightly by 1.34 per cent, amounting to Rs 5.63 lakh crore as of July 10, 2025, compared to the same period last year. The dip is primarily due to a sharp 38.01 per cent increase in tax refunds. Despite this, gross direct tax collections rose by 3.17 per cent, reaching Rs 6.65 lakh crore during the same period.