Net direct tax revenue jumps 6.3% to Rs 11.89 lakh crore till Oct 12

Refund issuances dropped 15.98 per cent to Rs 2.03 lakh crore between April 1 and October 12.

Net direct tax collection grew 6.33 per cent so far this fiscal to over Rs 11.89 lakh crore due to higher tax mop-up from non-corporates corporates and slower refunds.

Refund issuances dropped 15.98 per cent to Rs 2.03 lakh crore between April 1 and October 12.During the period, corporate tax collection increased only 2 percent to over Rs 5.01 lakh crore. However, non-corporate tax growth increased 10 percent. Between April 1 and October 12, net corporate tax collection stood at over Rs 5.01 lakh crore, up from Rs 4.91 lakh crore in the same period in 2024.

Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about Rs 6.55 lakh crore, up from over Rs 5.93 lakh crore in the same period of the last year.Securities Transaction Tax (STT) collection stood at Rs 30,878 crore so far this fiscal, up from Rs 30,629 crore in the year-ago period. Net direct tax collection, which includes personal income tax and corporate tax, recorded a 6.33 per cent growth year-on-year to Rs 11.89 lakh crore till October 12 this fiscal.

It was over Rs 11.18 lakh crore a year ago.Gross direct tax collection, before adjusting refunds, stood at over Rs 13.92 lakh crore till October 12 this fiscal, a 2.36 per cent growth over the year-ago period.In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.