India’s Direct Tax Collections Surge 7% Driven by Corporate Tax Growth, ETCFO
India’s net direct tax collections rose 7% year-on-year to ₹12.92 lakh crore between April 1 and November 10, supported by higher corporate tax inflows and a moderation in refunds, according to official data.
Refund payouts during the period dropped 18% to ₹2.42 lakh crore, helping lift net receipts. Gross direct tax collections, before accounting for refunds, reached ₹15.35 lakh crore — up 2.15% from the same period last year.
Corporate tax collections stood at ₹5.37 lakh crore, compared with ₹5.08 lakh crore a year earlier, while personal income tax (including taxes from Hindu Undivided Families) rose to ₹7.19 lakh crore from ₹6.62 lakh crore.
Collections from the Securities Transaction Tax (STT) were broadly steady at ₹35,682 crore, slightly below ₹35,923 crore in the year-ago period.
For FY25, the government has targeted direct tax revenues of ₹25.20 lakh crore — a 12.7% annual increase — and aims to raise ₹78,000 crore through STT in FY26.
