Net direct tax mop-up hits Rs 19.43 lakh cr, up 9.4%

Net direct tax collections for the current financial year rose 9.4% year-on-year to Rs 19.43 lakh crore as of February 10, reflecting steady growth in revenue mobilisation compared with the same period last year. The increase signals continued momentum in tax compliance and economic activity during the ongoing fiscal.

Data released by the Income Tax Department on Wednesday showed that net corporate tax collection grew 14.51 per cent to Rs 8.90 lakh crore, while taxes from non-corporates, including individuals and Hindu Undivided Families (HUFs), rose 5.91 per cent to about Rs 10.03 lakh crore.

Securities Transaction Tax collection stood at Rs 50,279 crore between April 1 and February 10, almost flat as compared to the same period last year.

Tax refund issuance nosedived 18.82 per cent to Rs 3.34 lakh crore during the period.

Gross direct tax collection increased 4.09 per cent to Rs 22.78 lakh crore till February 10 of this fiscal. This includes gross corporate tax and non-corporate tax mop-up of Rs 10.88 lakh crore and Rs 11.39 lakh crore, respectively.

In the Revised Estimates (RE) for current fiscal (2025-26), the government has projected its direct tax collection at Rs 24.84 lakh crore.