Net Direct Tax Collection Grows 8% to ₹17.04 lakh Cr on Slower Refunds

Net direct tax collection grew 8% to over ₹17.04 lakh crore between April 1-December 17 as refund issuances slowed, the income tax department data showed on Friday.

This includes net corporate tax mop up of over ₹8.17 lakh crore and non-corporate tax of about ₹8.47 lakh crore. Net revenue from Securities Transaction Tax (STT) stood at ₹40,195 crore till December 17 of the current fiscal.

Refunds issuance dropped 14% compared to last year to over ₹2.97 lakh crore.

Gross direct tax collections, before adjusting refunds, recorded 4.16% growth at over ₹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 ₹25.20 lakh crore, up 12.7% year-on-year. The government aims to collect ₹78,000 crore from STT in FY26.