India’s Net Direct Tax Collections Rise 9.4% to ₹19.43 Trillion till February 10

India’s direct tax collections continued to expand in FY26, with provisional data showing steady growth supported by lower refund outgo. 

Net Collections and Refund Moderation 

According to data released by the Central Board of Direct Taxes, net direct tax collections stood at ₹19.43 trillion as of February 10 in FY26, marking a 9.4% Y-o-Y increase. 

The growth exceeded the 9% expansion projected in the revised estimates. Gross direct tax collections reached ₹22.78 trillion, up 4.09% from ₹21.88 trillion in the corresponding period of FY25. 

Refunds issued during the period declined 18.82% to ₹3.34 trillion compared with ₹4.11 trillion a year earlier. Refunds to corporate taxpayers fell nearly 14% Y-o-Y, while non-corporate refunds declined nearly 24% Y-o-Y. 

Corporate, Non-corporate And Other Tax Trends 

Net non-corporate tax collections rose to ₹10.03 trillion from ₹9.47 trillion in FY25. Net corporate tax collections increased to ₹8.89 trillion from ₹7.77 trillion.  

Collections from securities transaction tax remained largely stable at ₹50,279 crore versus ₹49,201 crore in FY25. Receipts from other taxes dropped to ₹326.38 crore from ₹3,001.78 crore. 

The revised estimate for net direct tax collections in FY26 has been set at ₹24.21 trillion, with 80.4% of the target achieved as of February 10. In 2024-25, net direct tax collections had grown 13.6% to ₹22.26 trillion, exceeding the budget estimate. 

Read More: CBDT Invites Stakeholder Inputs on Draft Income-tax Rules Ahead of April 2026 Rollout! 

Conclusion 

With 80.4% of the FY26 revised estimate already achieved and refund outflows lower Y-o-Y, direct tax collections remain on track heading into the final month of the fiscal year. 

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