New Delhi: India‘s net direct tax collections rose 9.18% year-on-year to ₹10.82 lakh crore as on September 17, despite muted second quarter advance tax payments, official data showed. Advance tax payments in second quarter grew 2.9% ₹4.48 lakh crore.
Gross collections rose 3.39% to ₹12.43 lakh crore.
The collections include ₹4.72 lakh crore in corporate tax and ₹5.83 lakh crore in personal income-tax, with security transaction tax of ₹26,305.72 crore.
The Centre issued ₹1.60 lakh crore of refunds as on September 17, which was 23.87% lower than the refunds issued last year.
Officials are confident of meeting the target, despite muted advanced tax collections. “The net collection is still growing at closer to double digit and we are confident of meeting targets,” a senior official told ET.
The Centre has budgeted ₹25.2 lakh crore in net direct tax revenue for FY26, up from ₹22.3 lakh crore in FY25, when collections rose 13.6%, exceeding initial budgeted target.
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