India's Net Direct Tax Collection Rises 7% To Rs 12.92 Lakh Crore In FY26 So Far

India's net direct tax collection for the financial year 2025-26 has registered a 7% growth year-on-year to reach Rs 12.92 lakh crore, according to government data released on Tuesday.

As of Nov. 10, 2025, the gross collections rose 2.15% to reach Rs 15.35 lakh crore. On the other hand, total tax refunds declined 17.72% to Rs 2.42 lakh crore.

Corporate tax collection for the period was recorded at Rs 6.91 lakh crore while tax refunds stood at Rs 1.54 lakh crore, amounting to a net corporate tax collection of Rs 5.37 lakh crore.

The gross non-corporate tax which consists of Rs 1.54 lakh crore taxes paid by individuals, HUFs, Firms, AoPs, BoIs, local authorities and artificial juridical persons was recorded at Rs 8.08 lakh crore, while refunds amounted to Rs 88 thousand crore.

Therefore, net NCT stood at Rs 7.19 lakh crore.

"The data shows that remarkably non corporate tax collections have kept pace in spite of the very significant rate cut last year. This is a very good sign showing stronger growth of income levels," said Rohinton Sidhwa, partner in tax practice at Deloitte India.

He pointed out that refunds have declined quite significantly which could imply that taxpayers that paid cash taxes are either no longer in the tax net or the government has consciously "throttled back" on refunds.

"STT collections have largely been flat - reflecting the sideways movement of the indices. Given the IPO expansion there is potential there for more growth," Sidhwa added.