Overview
- Net direct tax collections reached over Rs 12.92 lakh crore between April 1 and Nov. 10, up 6.99% year on year.
- Refund issuances fell about 18% to over Rs 2.42 lakh crore as the department reviews high-value or red-flagged claims and seeks revised returns where required.
- Low-value refunds are being released, with most remaining payouts expected by late November or December, according to the CBDT chief.
- Two advance-tax instalments are still due this fiscal, and the deadline for audited returns has been extended to Dec. 10.
- The CBDT is working on further TDS rationalisation, simpler ITR forms to be notified by year-end or January 2026, and potential dispute-resolution steps as pre-budget consultations start Nov. 18.