<h1>Direct tax collections dip on weaker advance tax mop-up and higher refunds, slowing corporate tax receipts.</h1> Net direct tax collection declined due to slower advance tax mop-up and substantially higher refunds, with corporate advance tax growing modestly and non-corporate advance tax falling. Gross collections rose year-on-year but increased refund issuances reduced net realisation; corporate tax receipts slowed while non-corporate income tax edged up and Securities Transaction Tax strengthened. The current pace of collections versus the government's annual target highlights the need for stronger subsequent instalments.