Net Direct Tax Collections Rise 7% to ₹12.92 Trillion in April–November Period: Government Data
Lower refund payouts and increased corporate tax inflows drive growth, FY26 target set at ₹25.2 trillion
New Delhi, Nov 12: India’s net direct tax collections rose 7% year-on-year to ₹12.92 trillion between April 1 and November 10, according to the latest government data released on Tuesday. The growth was driven by higher corporate tax receipts and a notable decline in refund payouts.
The gross direct tax collection before issuing refunds stood at ₹15.35 trillion, marking a 2.15% increase compared to the ₹15.03 trillion recorded during the same period last fiscal. Refund issuances during the period fell by 18% to ₹2.42 trillion, compared to last year, contributing to the higher net collections despite modest growth in gross inflows.
Breaking down the figures, net corporate tax collections amounted to ₹5.37 trillion, up from ₹5.08 trillion in the corresponding period of FY 2024–25. Meanwhile, non-corporate tax receipts comprising personal income tax from individuals and Hindu Undivided Families (HUFs) rose to ₹7.19 trillion, compared to ₹6.62 trillion last year.
Overall, net direct tax collections, which include personal income tax and corporate tax, increased from ₹12.08 trillion in FY 2024–25 to ₹12.92 trillion this fiscal year up to November 10.
For FY 2025–26, the government has set a direct tax collection target of ₹25.20 trillion, reflecting a 12.7% increase over the previous year. Additionally, the projected revenue from the Securities Transaction Tax (STT) stands at ₹78,000 crore, the data showed.
The figures indicate a continued momentum in tax revenue growth, supported by robust corporate earnings and improved compliance under India’s evolving tax regime.
