Net direct tax collection rises 7% to ₹12.92 trillion between April-Nov

India's refund issuances between April 1 and November 10 declined by 18 per cent, totalling ₹2.42 trillion, compared with the same period last year

India’s net direct tax collection grew 7 per cent to Rs 12.92 trillion between April 1 and November 10, according to official government data.

 

India’s net direct tax collection rose 7 per cent year-on-year to over ₹12.92 trillion between April 1 and November 10, helped by higher corporate tax receipts and a drop in refund payouts, according to official data.

 

Refund issuances during the period declined by 18 per cent, totalling ₹2.42 trillion, compared with the same period last year. The slower pace of refunds contributed to the higher net collections, even as overall growth in gross collections remained modest.

 

 

Corporate, personal income tax collections climb

 

Net corporate tax collections stood at around ₹5.37 trillion, up from ₹5.08 trillion in the corresponding period of FY 2024-25.

Non-corporate tax receipts, which include personal income tax from individuals and Hindu Undivided Families (HUFs), rose to ₹7.19 trillion from ₹6.62 trillion a year ago.

 

Securities Transaction Tax (STT) collections, however, were marginally lower at ₹35,682 crore compared to ₹35,923 crore in the year-ago period, indicating a flat trend in market activity.

 

Gross collections show modest growth

 

Gross direct tax collections before refunds amounted to ₹15.35 trillion, reflecting a 2.15 per cent increase from the previous year. In FY 2024-25, the comparable figure stood at ₹15.03 trillion.

 

Overall, net direct tax collections, which comprise personal income tax and corporate tax, rose from ₹12.08 trillion last year to ₹12.92 trillion this fiscal year up to November 10.

 

For the financial year 2025-26, the government has set a target of ₹25.20 trillion in direct tax collections, representing a 12.7 per cent increase over the previous year. The projected revenue from Securities Transaction Tax (STT) is ₹78,000 crore.