Direct Tax Collections for F.Y. 2025-26 as on 31.03.2026

The provisional direct tax collection figures released by the Central Board of Direct Taxes for FY 2025–26 show moderate overall growth in tax revenues compared with the previous financial year, with net direct tax collections increasing by 5.12% to Rs. 23,40,406 crore, up from Rs. 22,26,375 crore in FY 2024–25. Gross collections rose by 4.03%, while refunds declined by 1.09%, contributing to the higher growth in net collections.

At the gross collection level, total direct tax receipts increased from Rs. 27,03,107 crore in FY 2024–25 to Rs. 28,11,936 crore in FY 2025–26, reflecting an absolute increase of Rs. 1,08,829 crore. This growth indicates steady tax mobilisation during the year, though the pace of increase remained measured rather than sharp.

A closer look at the components of direct tax collection shows that Corporation Tax (CT) registered healthy growth. Gross corporation tax collections rose from Rs. 12,72,542 crore to Rs. 13,81,606 crore, while net corporation tax collections increased from Rs. 9,86,767 crore to Rs. 10,99,166 crore. This suggests stronger corporate tax realisations, which may indicate improved profitability or higher tax compliance among companies.

In contrast, Non-Corporate Tax (NCT) collections remained broadly stable. Gross NCT collections slightly declined from Rs. 13,73,905 crore in FY 2024–25 to Rs. 13,72,474 crore in FY 2025–26. However, net NCT collections marginally increased from Rs. 11,82,972 crore to Rs. 11,83,405 crore, showing near-flat growth. Since NCT includes taxes paid by individuals, Hindu Undivided Families, firms, Associations of Persons, Bodies of Individuals, local authorities, and artificial juridical persons, the data suggests that collections from this segment remained steady but did not witness significant expansion during the year.

Securities Transaction Tax (STT) showed noticeable growth. Gross and net STT collections increased from Rs. 53,296 crore to Rs. 57,522 crore, representing a rise of nearly 7.93%, the strongest percentage increase among the major tax heads. This indicates higher revenue generation under STT compared to the previous year.

The category of Other Taxes (OT) recorded a sharp fall. Gross collections declined from Rs. 3,366 crore to Rs. 334 crore, while net collections fell from Rs. 3,341 crore to Rs. 312 crore. Although this segment is comparatively small in value, the steep decline significantly reduced its contribution to total direct tax receipts.

On the refunds side, total refunds reduced marginally from Rs. 4,76,732 crore in FY 2024–25 to Rs. 4,71,531 crore in FY 2025–26. Lower refunds, combined with increased gross collections, resulted in net collections growing faster than gross collections.

Overall, the direct tax data for FY 2025–26 reflects stable revenue growth, supported primarily by higher corporation tax collections, stronger securities transaction tax receipts, and lower refunds. However, flat non-corporate tax growth and a steep decline in other taxes suggest uneven movement across tax categories. With figures being provisional, the final collection numbers may undergo revision, but the current data indicates that direct tax collections maintained positive momentum during the financial year.

Direct Tax Collections for F.Y. 2025-26 as on 31.03.2026

(Rs. In Crore)

Source: Pr.CCA (CBDT)

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

** Provisional figures