Net Direct Tax Collections Up 9.18% to ₹10.82 Lakh Crore in FY26 So Far

New Delhi, September 19, 2025: Net direct tax collections have risen 9.18% year-on-year to over ₹10.82 lakh crore in the current fiscal up to September 17, driven by increased corporate advance tax collections and a reduction in refunds. The growth came despite subdued second-quarter advance tax payments, which rose only 2.9% to ₹4.48 lakh crore.

Corporate vs Non-Corporate Collections

Corporate advance tax has increased 6.11% to over ₹3.52 lakh crore till now this fiscal year. Non-corporate advance tax, however, comprising individuals and Hindu Undivided Families (HUFs), has fallen 7.30% to ₹96,784 crore.

Net corporate tax collections have risen to over ₹4.72 lakh crore, compared with ₹4.50 lakh crore in the corresponding period last year. Non-corporate tax collections have also improved, reaching about ₹5.84 lakh crore against ₹5.13 lakh crore recorded during the same period a year ago.

Refunds and Gross Collections

Issuance of refunds has decreased by 24% to ₹1.61 lakh crore from April 1 to September 17. This has propelled gross direct tax collection, excluding refunds, to more than ₹12.43 lakh crore, an increase of 3.39% over the year-ago period. The refunds issued this fiscal are 23.87% below the amount released during the year-ago period.

Securities Transaction Tax (STT)

Securities Transaction Tax (STT) collections have inched up to ₹26,306 crore, slightly higher than the ₹26,154 crore recorded in the corresponding period last year. The government has set a collection target of ₹78,000 crore for FY26.

Full-Year Outlook

The government expects ₹25.20 lakh crore in direct tax collection in FY26, an increase of 12.7% from last year. With corporate inflows remaining stable and refunds decelerating, the trend in tax collections today is an indication that the government is firmly positioned to achieve its full-year target.

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