Net direct tax collections: So far, the Net Direct Collection of the government has exceeded Rs 10.82 lakh crore in the current financial year. The tax collection has strengthened due to increasing advance tax collection from companies and slowing refunds.

Net direct collection includes personal income tax and corporate tax. From 1 April to 17 September, the refund amount declined by 24 percent to Rs 1.61 lakh crore. Advance tax collection received from companies increased by 6.11% to Rs 3.52 lakh crore. At the same time, non -corporate tax collection was reduced by 7.30 percent to Rs 96,784 crore.

Corporate and non -corporate tax collection

Net corporate tax collection increased to Rs 4.72 lakh crore between April 1 to September 17. (It was Rs 4.50 lakh crore in the same period of 2024.) Non corporate tax collection was about 5.84 lakh crore rupees so far, which is more than 5.13 lakh crore rupees in the previous year. Non corporate tax consists of individual and HUF (Hindu undivided families).

STT and Total Tax Collection

Securities Transaction Tax (STT) Collection: Rs 26,306 crore
(Rs 26,154 crore in the same period last year)

Net Direct Collection: 9.18 percent to Rs 10.82 lakh crore
(9.91 lakh crore rupees last year)

Gross Direct Tax Collection: 12.43 lakh crore rupees
(Annual increase of 3.39 percent)

Government’s goal

The government has kept the target of Rs 25.20 lakh crore in the current financial year 2025-26, which is 12.7 percent more than the previous year. Also, the target is to raise Rs 78,000 crore from STT in this financial year. On the other hand, Union Finance Minister Nirmala Sitharaman said that the recent reforms in GST will bring Rs 2 lakh crore in the economy and this will increase tremendous demand in all areas.

He further said that the GST Council’s decision to cut rates was possible because the state came together in a sense of cooperation. There is no giving and giving model in GST. If the revenue is low, the center is equally borne.

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Tax Free Countries: Tax in any country is a big basis of the income of the government there, on which the plan of development is made. On behalf of the government, two types of taxes are imposed on their people- one direct and the other indirect. If we talk about India, then you have to pay tax according to income, that is, slabs are divided according to different income. But, an interesting fact is that there are some countries in the world, where people keep the entire income with them. They do not have to pay any share to the government.

How does an economy run without tax?

In such a situation, you must be thinking in your mind that when the people in a country do not pay tax, then what is the means of income with the government and then how does the government there work? After all, how does the economy of those countries run?

Tax free in UAE-Kuwait

Actually, one of the countries where no tax is charged on citizens is the United Arab Emirates. The people here neither have to pay any kind of tax on their income nor pay indirect tax. In this country, the entire economy from tourism to oil rests. The government earns so much from these things that the people here keep the entire income with them.

Apart from this, there should also be another country of Gulf Kuwait, which is counted among the world’s big oil exporting countries. The government here has also kept the people of their country completely free from the burden. The entire economy here rests on the sale of oil.

There is no tax in these countries either

Apart from UAE and Kuwait, Bahrain’s name also comes in tax free countries. Oil is the main source of income of the government here. Apart from this, the financial sector and strong banking system are also helpful in the growth of the economy here. Apart from this, there is no provision of direct tax in Saudi Arabia. However, indirect tax has to be paid here. Saudi Arabia’s economy is the strong base oil.

Apart from these countries, there is no direct tax in the Islamic country Brunei. Taxes are not levied even in The Bahmas. However, other indirect taxes and tourism are a major source of income here. Also, in Qatar, Oman, Manako, the government has not provided any tax on income.