Direct Tax Collections for F.Y. 2025-26 (as on 10.02.2026)

As per data released from TINMIS, the Direct Tax Collections for Financial Year 2025–26 up to 10 February 2026 show steady growth in gross and net collections compared to the corresponding period of FY 2024–25, despite a significant decline in refunds issued.

Gross Direct Tax Collections

Gross Direct Tax Collections for FY 2025–26 stood at ₹22,78,068.60 crore, reflecting a 4.09% growth over ₹21,88,554.86 crore collected during the same period in FY 2024–25.

Corporate Tax (CT) collections increased from ₹10,08,222.87 crore to ₹10,88,533.85 crore, indicating improved corporate profitability and tax compliance. Non-Corporate Tax (NCT), which includes taxes paid by individuals, HUFs, firms, AoPs, BoIs, local authorities, and artificial juridical persons, also saw a rise from ₹11,28,071.65 crore to ₹11,38,897.14 crore.

Securities Transaction Tax (STT) collections recorded a marginal increase from ₹49,201.40 crore to ₹50,279.17 crore, suggesting stable capital market activity during the year. However, collections under “Other Taxes” declined sharply from ₹3,058.94 crore to ₹358.44 crore.

Overall, the gross figures reflect moderate but stable growth in direct tax revenues, driven primarily by corporate and non-corporate tax contributions.

Refunds

Refunds issued during FY 2025–26 (up to 10 February 2026) amounted to ₹3,34,324.63 crore, representing a significant decline of 18.82% compared to ₹4,11,826.75 crore issued during the corresponding period in FY 2024–25.

Corporate tax refunds reduced from ₹2,31,175.24 crore to ₹1,98,780.95 crore. Non-corporate tax refunds also declined substantially from ₹1,80,594.35 crore to ₹1,35,511.62 crore. Refunds under “Other Taxes” fell from ₹57.16 crore to ₹32.06 crore, while no refunds were reported under STT for either year.

The reduction in refunds has played a key role in boosting net collections for the current financial year.

Net Direct Tax Collections

Net Direct Tax Collections for FY 2025–26 stood at ₹19,43,743.97 crore, compared to ₹17,76,728.11 crore in FY 2024–25. This represents a robust 9.40% growth, significantly higher than the growth rate in gross collections.

Corporate Tax net collections increased from ₹7,77,047.63 crore to ₹8,89,752.90 crore. Non-Corporate Tax net collections rose from ₹9,47,477.30 crore to ₹10,03,385.52 crore. STT net collections increased slightly from ₹49,201.40 crore to ₹50,279.17 crore, while net collections under “Other Taxes” declined from ₹3,001.78 crore to ₹326.38 crore.

The stronger growth in net collections compared to gross collections is primarily attributable to lower refund outgo during the current financial year.

Overall Assessment

The data indicates steady expansion in India’s direct tax base during FY 2025–26. Corporate and non-corporate taxes continue to be the major contributors to revenue. While gross growth remains moderate at 4.09%, the sharp reduction in refunds has resulted in a notable 9.40% rise in net collections.

This trend suggests improved revenue realization and possibly better tax administration efficiency, positioning the government’s direct tax performance on a stable growth trajectory for the financial year.

Direct Tax Collections for F.Y. 2025-26 (as on 10.02.2026)

(Rs. In Crore)

Source: TINMIS

* NCT includes taxes paid by individuals, HUFs, Firms, AoPs, BoIs, Local Authorities, Artificial Juridical Person

Securities Transaction Tax (STT)

Non- Corporate Tax (NCT)

Corporate Tax (CT)