According to the Income Tax Department, India’s net direct tax collections grew 8.82 per cent to over 18.38 lakh crore rupees in the current financial year up to yesterday. The collection includes net corporate tax receipts of 8.63 lakh crore rupees, while taxes from non-corporates, including individuals and Hindu Undivided Families (HUFs), stood at 9.30 lakh crore rupees during the period. Collections from the Securities Transaction Tax (STT) amounted to 44,867 crore rupees between April 1 and January 11, reflecting steady activity in the capital markets. During the same period, tax refunds declined by 17 per cent year-on-year to 3.12 lakh crore rupees, contributing to the growth in net tax collections. Meanwhile, gross direct tax collections increased 4.14 per cent to about 21.50 lakh crore rupees so far in the current fiscal.

 

For the 2025-26 financial year, the government has projected direct tax collections of 25.20 lakh crore rupees, representing a 12.7 per cent increase over the previous year. The government has also set a target of 78,000 crore rupees from the Securities Transaction Tax in FY26.