Net direct tax collections rise 9.2% to ₹10.82 lakh crore so far in FY26

Net direct tax collections rose 9.2% so far this financial year to ₹10.82 lakh crore, helped by higher corporate and personal income tax mop-up, according to official data.

The net collections stood at ₹9.91 lakh crore in the corresponding period of 2024-25.

Direct taxes, which mainly comprise income tax paid by individuals and corporate tax, form a major component of the Centre’s gross tax revenue.

Refunds worth ₹1.61 lakh crore have been issued so far this year, down nearly 24% compared to ₹2.11 lakh crore issued in the year-ago period.

Between April 1 to September 17, 2025, Gross direct tax collections, before adjusting for refunds, grew 3.4% to ₹12.43 lakh crore. This includes corporate tax at ₹5.96 lakh crore, personal income tax (including STT) at ₹6.47 lakh crore, and other minor taxes.

Securities Transaction Tax (STT) collection stood at ₹26,306 crore so far this fiscal, up from Rs 26,154 crore in the year-ago period. Net corporate tax collection stood at over ₹4.72 lakh crore, up from Rs 4.50 lakh crore in the same period in 2024.

Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about ₹5.84 lakh crore, up from over ₹5.13 lakh crore in the same period of the last year.

Advance tax collections for the first half of FY26 stood at ₹4.49 lakh crore, up nearly 3% from ₹4.36 lakh crore a year ago.

Corporate advance tax grew 6.1% to over ₹3.52 lakh crore, while advance tax paid by individuals contracted 7.3% to ₹96,784 crore.

In the current fiscal (2025-26), the government has projected its direct tax collection at ₹25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect ₹78,000 crore from STT in FY26.