CA Sansaar
8% Growth in Net Direct Tax Collections at ₹17.04 Lakh Crore Due to Moderated Refunds
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India’s net direct tax collections rose 8% to over ₹17.04 lakh crore during the period from April 1 to December 17, driven largely by a slowdown in refund issuances, according to data released by the Income Tax Department on Friday.
The collections comprised net corporate tax receipts of more than ₹8.17 lakh crore and non-corporate tax collections of approximately ₹8.47 lakh crore. Revenue from the Securities Transaction Tax (STT) stood at ₹40,195 crore as of December 17 in the current fiscal year.
Refund disbursements declined by 14% year-on-year to over ₹2.97 lakh crore during the same period.
Gross direct tax collections, prior to adjustment for refunds, increased by 4.16% to over ₹20.01 lakh crore as of December 17, the data showed.
For the ongoing financial year 2025–26, the government has projected direct tax collections at ₹25.20 lakh crore, reflecting a year-on-year growth of 12.7%. The government has also set a target of ₹78,000 crore in collections from STT for FY26.
The collections comprised net corporate tax receipts of more than ₹8.17 lakh crore and non-corporate tax collections of approximately ₹8.47 lakh crore. Revenue from the Securities Transaction Tax (STT) stood at ₹40,195 crore as of December 17 in the current fiscal year.
Refund disbursements declined by 14% year-on-year to over ₹2.97 lakh crore during the same period.
Gross direct tax collections, prior to adjustment for refunds, increased by 4.16% to over ₹20.01 lakh crore as of December 17, the data showed.
For the ongoing financial year 2025–26, the government has projected direct tax collections at ₹25.20 lakh crore, reflecting a year-on-year growth of 12.7%. The government has also set a target of ₹78,000 crore in collections from STT for FY26.
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