Direct tax collection: Net mop-up rises 6.3% to Rs 11.89 lakh crore; refunds dip

Net direct tax revenue recorded a growth of 6.33 per cent so far in the current fiscal, reaching over Rs 11.89 lakh crore till October 12, driven by higher corporate tax collections and slower refund issuances, PTI reported.

Refunds issued during this period dropped 16 per cent to Rs 2.03 lakh crore.

According to official data, net corporate tax collection stood at about Rs 5.02 lakh crore between April 1 and October 12, up from Rs 4.92 lakh crore in the same period last year. Non-corporate taxes, including collections from individuals and HUFs, rose to about Rs 6.56 lakh crore from Rs 5.94 lakh crore in the year-ago period. Securities Transaction Tax (STT) collection also edged up to Rs 30,878 crore from Rs 30,630 crore during the same period.

“Net direct tax collection , which includes personal income tax and corporate tax, has grown 6.33 per cent year-on-year at over Rs 11.89 lakh crore till October 12 this fiscal,” PTI reported, citing government sources. Gross direct tax collections, before adjusting refunds, stood at over Rs 13.92 lakh crore, marking a 2.36 per cent rise from the previous year.

For the full fiscal 2025-26, the government has projected direct tax collections at Rs 25.20 lakh crore, up 12.7 per cent year-on-year, with an STT target of Rs 78,000 crore, the data showed.