India’s Net Direct Tax Collection Jumps 9% To Rs 10.82 Lakh Crore In FY26 So Far; Details Here | Economy News

Refunds fell 24 per cent to Rs 1.61 lakh crore between April 1 and September 17.

India’s net direct tax collection grew 9.18 per cent in the current financial year 2025-26 so far to over Rs 10.82 lakh crore, on the back of higher advance tax mop-up from corporates and slower refunds. Refunds fell 24 per cent to Rs 1.61 lakh crore between April 1 and September 17.

During the period, corporate advance tax collection increased 6.11 per cent to over Rs 3.52 lakh crore. However, non-corporate advance tax mop-up declined 7.30 per cent to Rs 96,784 crore.

Between April 1 and September 17, net corporate tax collection stood at over Rs 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 Rs 5.84 lakh crore, up from over Rs 5.13 lakh crore in the same period of the last year.

Securities Transaction Tax (STT) collection stood at Rs 26,306 crore so far this fiscal, up from Rs 26,154 crore in the year-ago period.

Net direct tax collection, which includes personal income tax and corporate tax, recorded a 9.18 per cent growth year-on-year to Rs 10.82 lakh crore till September 17 this fiscal. It was over Rs 9.91 lakh crore a year ago.

Gross direct tax collection, before adjusting refunds, stood at over Rs 12.43 lakh crore till September 17 this fiscal, a 3.39 per cent growth over the year-ago period.

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

Vivek Jalan, partner at Tax Connect Advisory Services LLP, said, “The direct tax collections till September 17, 2025, seem to be in alignment with the policy changes by the finance ministry and procedural changes by the CBDT in the recent past. With the massive reduction in individual income taxes for FY26, the non-corporate advance taxes have declined by around 7%. Also, on account of strict monitoring of deductions in the ITRs this year, driven by heightened disclosures, the refunds are being closely scrutinised before release, and, hence, the non-corporate refunds have almost dropped to one-third YoY.”

However, with the massive GST reductions from September 22, 2025, and the estimated resultant GDP growth of Rs 2 lakh crore, the corporate tax collections are expected to uptick substantially in the period October 2025 to March 2026, he added.