The net direct tax collections for the financial year 2025–26 recorded a 7% growth as of 10 November 2025, reaching ₹12.92 lakh crore, according to data released by the CBDT. The increase reflects steady performance across corporate and non-corporate tax categories, despite a fall in overall refunds.

According to the report, gross direct tax collections stood at ₹15.35 lakh crore for FY 2025–26, up from ₹15.02 lakh crore collected during the same period last year — a growth of 2.15%. Higher corporate and non-corporate tax receipts primarily drove the rise.

Rohinton Sidhwa, Partner, Deloitte India, said, "The data shows that remarkably, non-corporate tax collections have kept pace in spite of the very significant rate cut last year. This is a very good sign of stronger income growth. Refunds, on the other hand, have fallen significantly. This could mean that taxpayers who paid cash taxes are either no longer in the tax net or the Government has consciously throttled back on refunds."

As per CBDT data, gross corporate tax collections rose from ₹6.6 lakh crore in FY 2024–25 to ₹6.9 lakh crore in FY 2025–26, marking a moderate increase. Similarly, non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms, Associations of Persons (AoPs), Bodies of Individuals (BoIs), local authorities and artificial juridical persons, also increased from ₹8.03 lakh crore to ₹8.08 lakh crore.

The Securities Transaction Tax (STT), however, showed little change — marginally decreasing from ₹35,922.82 crore in the previous year to ₹35,681.88 crore in the current year. Meanwhile, collections under other taxes fell sharply from ₹2,394.42 crore to ₹334.62 crore.

"STT collections have been mainly flat - reflecting the sideways movement of the indices. Given the IPO expansion there is potential for more growth," said Sidhwa.

While gross collections increased, total tax refunds dropped by 17.72%, from ₹2.94 lakh crore in FY 2024–25 to ₹2.42 lakh crore this year. The fall in refunds was mainly due to a significant reduction in non-corporate refunds, which declined from ₹1.42 lakh crore to ₹88,548 crore. Corporate tax refunds also saw a minor fall, from ₹1.52 lakh crore to ₹1.53 lakh crore.

After adjusting for refunds, net direct tax collections stood at ₹12.92 lakh crore as of 10 November 2025, compared to ₹12.07 lakh crore during the same period last year. This translates to 7% year-on-year growth, highlighting continued buoyancy in direct tax revenue, according to the data.

Net corporate tax collections increased from ₹5.07 lakh crore to ₹5.37 lakh crore, while non-corporate taxes rose from ₹6.61 lakh crore to ₹7.19 lakh crore. STT remained broadly stable at ₹35,681.88 crore, and other taxes contributed ₹314.23 crore.