Summary of this article
Net direct tax collection rose eight per cent to Rs 17.04 lakh crore till December 17
Refund issuances fell 14 per cent, helping support higher net tax collections
Corporate and non-corporate taxes contributed nearly equally to revenues
Government targets Rs 25.20 lakh crore direct tax collection in FY26
Net direct tax collection grew eight per cent to over Rs 17.04 lakh crore between April 1 and December 17 as refund issuances slowed, the income tax department data showed on December 19.
This includes net corporate tax mop-up of over Rs 8.17 lakh crore and non-corporate tax of about Rs 8.47 lakh crore. Net revenue from Securities Transaction Tax (STT) stood at Rs 40,195 crore till December 17 of the current fiscal.
Refund issuance dropped 14 per cent compared to last year to over Rs 2.97 lakh crore.
Gross direct tax collections, before adjusting refunds, recorded 4.16 per cent growth at over Rs 20.01 lakh crore till December 17, as per the income tax department data.
In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.
