India’s Net Direct Tax Collections Rise to ₹18.38 Lakh Crore in FY26 to Date

India’s direct tax revenues have recorded steady growth in the current financial year unti; Jan 11, 2026, reflecting sustained economic activity and consistent tax compliance. 

Recent data from the Income Tax Department indicates that net direct tax collections have risen year-on-year, driven by corporate tax contributions, non-corporate tax receipts and securities transaction tax inflows.

The figures provide insight into the government’s revenue position for FY26.

Net Direct Tax Collection Overview

According to official data, net direct tax collections have reached ₹18.38 lakh crore in the ongoing financial year so far.

This represents an annual increase of 8.82% compared to the same period in the previous year. The rise indicates stable tax inflows across multiple categories.

Corporate and Non-Corporate Tax Contributions

Net corporate tax receipts for the period stood at ₹8.63 lakh crore. Taxes collected from non-corporate entities, including individual taxpayers and Hindu Undivided Families (HUFs), amounted to ₹9.30 lakh crore. These figures highlight balanced contributions from both business and individual tax segments.

Securities Transaction Tax Performance

Collections from the Securities Transaction Tax (STT) reached ₹44,867 crore between 1 April and 11 January. 

This reflects continued participation in capital market activities and provides an additional revenue stream within direct tax collections.

Trend in Tax Refunds

Tax refunds issued during the period declined by 17% year-on-year to ₹3.12 lakh crore. Lower refund outflows have contributed to the rise in net tax collections, supporting the overall revenue position.

Gross Direct Tax Collections

Gross direct tax receipts for the financial year to date have increased by 4.14% to approximately ₹21.50 lakh crore. This figure represents the total amount collected before adjusting for refunds.

Government’s Direct Tax Target for FY26

For the 2025–26 financial year, the government has projected total direct tax collections of ₹25.20 lakh crore. This target represents a planned increase of 12.7% over the previous year. Additionally, the STT collection target for FY26 has been set at ₹78,000 crore.

Read More: BMW Urges Government to Retain 5% GST on Electric Vehicles in Upcoming Budget.

Conclusion

The rise in net direct tax collections in FY26 to date reflects consistent revenue inflows from corporate taxes, individual taxpayers and capital market transactions. With defined targets for the full financial year, these figures provide an indication of the government’s fiscal planning and revenue outlook for the months ahead.

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