New Delhi:The current financial year has seen an annual growth of 4.14% in gross direct tax collections till January 11 ₹Rs 21.5 lakh crore, driven by higher corporate tax revenues, according to government data released on Monday.
Net direct tax revenue increased by almost 9% to almost ₹Rs 18.38 lakh crore in 2025-26 (till January 11) on lower refunds compared to the same period of the previous financial year.
The total refunds in the current period were ₹Rs 3.12 lakh crore, a decline of about 17% ₹According to data released by the Income Tax Department, it was Rs 3.75 lakh crore in the same period last year.
Net income includes net corporate tax revenues of more than ₹8.63 lakh crore and tax from non-corporate came closer ₹9.30 lakh crore. Non-corporate taxes include personal income tax (PIT).
Securities Transaction Tax (STT) revenues were on ₹Data shows that in 2025-26 (till January 11), Rs 44,867 crore.
Government has recovery target ₹Revenue of Rs 25.20 lakh crore from direct taxes in the current financial year (2025-26).
Rohinton Sidhwa, partner, Deloitte India, said, “The net collection growth of 9% is encouraging and indicates that the government may be on track to achieve the year-end target. However, this is due to significantly lower refunds being issued to both corporate and individual taxpayers. The exact details as to why there is a significant difference in the trend of refunds compared to the previous year are not very clear.”