New Delhi’s tax coffers are filling up steadily. India’s gross direct tax collections for FY 2025-26 have surged 4.09% year-on-year to exceed ₹22.78 lakh crore as of February 10, 2026, from April 1. This marks a robust improvement over the ₹21.88 lakh crore gathered in the same period last year.
The Income Tax Department revealed that refunds totaling ₹3.34 lakh crore were issued during this review period, bringing net collections to ₹19.43 lakh crore—a sharp 9.40% rise from ₹17.76 lakh crore a year ago. Last year, refunds stood at ₹4.11 lakh crore.
Breaking it down, net corporate tax collections hit ₹8.89 lakh crore, up from ₹7.77 lakh crore, while non-corporate taxes reached ₹10.03 lakh crore compared to ₹9.47 lakh crore previously. Security Transaction Tax (STT) collections climbed to ₹50,279 crore from ₹49,201 crore.
Other taxes added ₹358.44 crore gross, with ₹32.06 crore refunded, netting ₹326.38 crore. This momentum aligns with GST trends, where January’s gross collections jumped 6.2% to ₹1.93 lakh crore from ₹1.82 lakh crore. Cumulative GST from April to January rose 8.3% to ₹18.43 lakh crore, with net figures up 7.6% in January and 6.8% overall.
These figures signal economic resilience amid global headwinds, underscoring effective tax administration and growing compliance. As the fiscal year progresses, sustained growth could bolster government revenues for infrastructure and welfare initiatives.