India’s tax coffers swell as direct tax collections cross ₹22.8 lakh crore, up 7.2%

India’s net direct tax collections grew 7.19% year-on-year to ₹22.80 lakh crore as of March 17, 2026, according to the latest provisional data released by the tax department.

The overall net direct tax mop-up includes net corporate tax of ₹10.91 lakh crore, non-corporate tax of ₹11.32 lakh crore and securities transaction tax (STT) of ₹55,717 crore.

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Advance tax collections during the period rose 6.42% to ₹11.13 lakh crore, with the increase partly moderated by weaker growth in non-corporate tax payments.

Before adjusting for refunds, gross direct tax collections stood at about ₹27.15 lakh crore as of March 17, marking a 4.86% increase from ₹25.89 lakh crore collected during the same period a year earlier.

Refunds issued during the period declined 5.86% year-on-year to about ₹4.35 lakh crore, compared with ₹4.62 lakh crore in the corresponding period of the previous fiscal.

Under gross collections, corporate tax revenues rose to about ₹13.47 lakh crore from ₹12.41 lakh crore a year earlier. Non-corporate tax collections, which include taxes paid by individuals and other non-corporate entities, stood at around ₹13.11 lakh crore, compared with ₹12.92 lakh crore in the same period last year.

Securities transaction tax (STT) collections increased to about ₹55,717 crore from ₹53,095 crore a year earlier, while other taxes dropped sharply to around ₹365 crore from about ₹3,400 crore.

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After accounting for refunds, net corporate tax collections stood at about ₹10.92 lakh crore compared with ₹9.68 lakh crore in the year-ago period. Net non-corporate tax collections rose to around ₹11.32 lakh crore from ₹11.03 lakh crore. Net STT collections were about ₹55,717 crore, while other taxes contributed roughly ₹324 crore, compared with about ₹3,340 crore in the corresponding period of the previous fiscal.

Within advance tax payments, corporate advance tax rose 9.54% to around ₹8.30 lakh crore, compared with ₹7.58 lakh crore last year. Non-corporate advance tax, however, declined 1.78% to about ₹2.83 lakh crore from ₹2.88 lakh crore in the year-ago period.