India, June 21 -- Gross direct tax collection in 2025-26 (as on June 19) saw little less than 5% annualised growth at over Rs.5.45 lakh crore, but net revenue dipped 1.4% to Rs.4.59 lakh crore in the same period because of higher refunds, according to government data released on Saturday.

Refunds in April 1 to June 19 of FY26 saw over 58% jump to Rs.86,385.31 crore as compared to Rs.54,660.79 crore in the same period of FY25, mainly because of higher refunds to corporate taxpayers. "Refunds have increased by 58.04% (as on 19.06.2025) compared to corresponding period of last year reflecting better taxpayer services and quicker issuance of refunds," the Central Board of Direct Taxes (CBDT) said.

According to the official data, corporate t...