Corporate and personal taxes increase direct tax collection by 8.82% to ₹18.38 lakh crore

India’s net direct tax collection increased by 8.82 per cent to over `18.38 lakh crore in the current financial year till January 11, according to data released by the Income Tax Department on January 12.

The total cleanup includes net corporate tax collections of over ₹8.63 lakh crore, while taxes collected from non-corporates – including individuals, Hindu Undivided Families (HUF) and other entities – stood at ₹9.30 lakh crore during the period.

Securities Transaction Tax (STT) collections stood at ₹44,867 crore between April 1 and January 11, reflecting consistent activity in the capital markets.

Meanwhile, tax refunds issued during the period declined by 17 per cent year-on-year to `3.12 lakh crore. On a gross basis, direct tax collections increased by 4.14 per cent to around 21.50 lakh crore till January 11 of the current fiscal year.

For FY26 (2025-26), the government has projected direct tax revenue at ₹25.20 lakh crore, representing a growth of 12.7% over the previous year. As part of this, the Center aims to mobilize ₹78,000 crore through securities transaction tax in FY26.