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<p>India’s tax revenues have shown encouraging strength midway through the current financial year, offering the government greater fiscal comfort ahead of the Union Budget. Net direct tax collections in FY 2025–2026 have grown by 8.82 per cent year-on-year to Rs 18.38 lakh crore as of January 11, 2026, according to official figures released by the Income Tax Department. A sharp fall in refunds issued so far this year has also played a key role in lifting net collections. With just under three months remaining in the financial year, the latest numbers suggest the government is on track to meet and potentially exceed its direct tax targets.</p>
<blockquote><p dir="ltr" lang="en" xml:lang="en">Data on Gross Direct Tax Collections, Refunds and Net Direct Tax Collections for FY 2025-26 as on 11.01.2026 has been released.</p>
<p>The data is available on the national website of Income Tax Department at the following link:<a href="https://t.co/1PBWh3f7Is">https://t.co/1PBWh3f7Is</a> <a href="https://t.co/2VnXvTiiQc">pic.twitter.com/2VnXvTiiQc</a></p>
<p>— Income Tax India (@IncomeTaxIndia) <a href="https://twitter.com/IncomeTaxIndia/status/2010702416274952496?ref_src=twsrc%5Etfw">January 12, 2026</a></p></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2><strong>Gross collections cross Rs 21.5 lakh crore</strong></h2>
<p>Gross direct tax collections rose to Rs 21.5 lakh crore as of January 11, 2026, up 4.14 per cent from Rs 20.64 lakh crore collected in the same period last year. While the overall growth in gross collections has been measured, the real support has come from stronger net collections, helped by a sharp decline in refund outgo this year. This marks a clear improvement over the corresponding period last year, when net corporate tax collections were around Rs 7.67 lakh crore.</p>
<p>Officials say the steady rise reflects stable corporate earnings, better compliance and fewer large refund payouts, rather than any sharp increase in tax rates. The numbers also suggest that corporate balance sheets have remained resilient, allowing companies to meet their tax obligations on time.</p>
<p><strong>Read More: <a href="https://www.zeebiz.com/union-budget/news-major-banking-reform-on-the-cards-union-budget-2026-may-flag-a-new-governance-bill-for-psu-banks-387466">Major banking reform on the cards? Union Budget 2026 may flag a new Governance Bill for PSU banks</a></strong></p>
<h2><strong>Individual taxpayers drive stronger growth</strong></h2>
<p>Non-corporate taxes which include personal income tax paid by individuals, professionals, firms and Hindu undivided families - recorded a stronger rise than corporate taxes.​</p>
<p><strong>Read More: <a href="https://www.zeebiz.com/personal-finance/news-fd-rd-mutual-funds-or-gold-where-returns-are-higher-risks-lower-what-you-should-know-before-investing-387685">FD, RD, mutual funds or gold? Where returns are higher, risks lower — What you should know before investing</a></strong></p>
<p>Total refunds issued stood at Rs 3.12 lakh crore, This marks a 16.92 per cent drop from Rs 3.75 lakh crore issued during the same period last year</p>
<p>The lower refund outgo has helped the government retain a larger share of gross collections, improving liquidity without changing tax rates.<br />
Officials noted that faster processing of returns in the previous year had led to higher refunds, while the current year reflects more accurate advance tax payments and fewer large adjustments at the assessment stage.</p>
<h2><strong>Securities transaction tax remains stable</strong></h2>
<p>Collections from Securities Transaction Tax (STT) remained broadly unchanged during the period.</p>
<p><strong>Read More: <a href="https://www.zeebiz.com/union-budget/photo-gallery-union-budget-2026-10-interesting-facts-that-shaped-indias-budget-over-the-years-387314">Union Budget 2026: 10 interesting facts that shaped India's Budget over the years</a></strong></p>


India’s tax revenues have shown encouraging strength midway through the current financial year, offering the government greater fiscal comfort ahead of the Union Budget. Net direct tax collections in FY 2025–2026 have grown by 8.82 per cent year-on-year to Rs 18.38 lakh crore as of January 11, 2026, according to official figures released by the Income Tax Department. A sharp fall in refunds issued so far this year has also played a key role in lifting net collections. With just under three months remaining in the financial year, the latest numbers suggest the government is on track to meet and potentially exceed its direct tax targets.Data on Gross Direct Tax Collections, Refunds and Net Direct Tax Collections for FY 2025-26 as on 11.01.2026 has been released.The data is available on the national website of Income Tax Department at the following link:https://t.co/1PBWh3f7Is pic.twitter.com/2VnXvTiiQc— Income Tax India (@IncomeTaxIndia) January 12, 2026Gross collections cross Rs 21.5 lakh croreGross direct tax collections rose to Rs 21.5 lakh crore as of January 11, 2026, up 4.14 per cent from Rs 20.64 lakh crore collected in the same period last year. While the overall growth in gross collections has been measured, the real support has come from stronger net collections, helped by a sharp decline in refund outgo this year. This marks a clear improvement over the corresponding period last year, when net corporate tax collections were around Rs 7.67 lakh crore.Officials say the steady rise reflects stable corporate earnings, better compliance and fewer large refund payouts, rather than any sharp increase in tax rates. The numbers also suggest that corporate balance sheets have remained resilient, allowing companies to meet their tax obligations on time.Read More: Major banking reform on the cards? Union Budget 2026 may flag a new Governance Bill for PSU banksIndividual taxpayers drive stronger growthNon-corporate taxes which include personal income tax paid by individuals, professionals, firms and Hindu undivided families - recorded a stronger rise than corporate taxes.​Read More: FD, RD, mutual funds or gold? Where returns are higher, risks lower — What you should know before investingTotal refunds issued stood at Rs 3.12 lakh crore, This marks a 16.92 per cent drop from Rs 3.75 lakh crore issued during the same period last yearThe lower refund outgo has helped the government retain a larger share of gross collections, improving liquidity without changing tax rates.Officials noted that faster processing of returns in the previous year had led to higher refunds, while the current year reflects more accurate advance tax payments and fewer large adjustments at the assessment stage.Securities transaction tax remains stableCollections from Securities Transaction Tax (STT) remained broadly unchanged during the period.Read More: Union Budget 2026: 10 interesting facts that shaped India's Budget over the years

India’s direct tax collections in FY 2025–2026 have risen 8.82 per cent so far, supported by steady corporate profits, higher personal income tax inflows and a sharp decline in refunds. With net collections touching Rs 18.38 lakh crore by January 11, the government enters the Budget season with stronger-than-expected revenue visibility.

Direct tax collections jump 8.8% in FY 2025–2026 so far; lower refunds lift government revenues

India’s tax revenues have shown encouraging strength midway through the current financial year, offering the government greater fiscal comfort ahead of the Union Budget. Net direct tax collections in FY 2025–2026 have grown by 8.82 per cent year-on-year to Rs 18.38 lakh crore as of January 11, 2026, according to official figures released by the Income Tax Department. A sharp fall in refunds issued so far this year has also played a key role in lifting net collections. With just under three months remaining in the financial year, the latest numbers suggest the government is on track to meet and potentially exceed its direct tax targets. Data on Gross Direct Tax Collections, Refunds and Net Direct Tax Collections for FY 2025-26 as on 11.01.2026 has been released. The data is available on the national website of Income Tax Department at the following link:https://t.co/1PBWh3f7Is pic.twitter.com/2VnXvTiiQc — Income Tax India (@IncomeTaxIndia) January 12, 2026 Gross collections cross Rs 21.5 lakh crore Gross direct tax collections rose to Rs 21.5 lakh crore as of January 11, 2026, up 4.14 per cent from Rs 20.64 lakh crore collected in the same period last year. While the overall growth in gross collections has been measured, the real support has come from stronger net collections, helped by a sharp decline in refund outgo this year. This marks a clear improvement over the corresponding period last year, when net corporate tax collections were around Rs 7.67 lakh crore. Officials say the steady rise reflects stable corporate earnings, better compliance and fewer large refund payouts, rather than any sharp increase in tax rates. The numbers also suggest that corporate balance sheets have remained resilient, allowing companies to meet their tax obligations on time. Read More: Major banking reform on the cards? Union Budget 2026 may flag a new Governance Bill for PSU banks Individual taxpayers drive stronger growth Non-corporate taxes which include personal income tax paid by individuals, professionals, firms and Hindu undivided families - recorded a stronger rise than corporate taxes.​ Read More: FD, RD, mutual funds or gold? Where returns are higher, risks lower — What you should know before investing Total refunds issued stood at Rs 3.12 lakh crore, This marks a 16.92 per cent drop from Rs 3.75 lakh crore issued during the same period last year The lower refund outgo has helped the government retain a larger share of gross collections, improving liquidity without changing tax rates. Officials noted that faster processing of returns in the previous year had led to higher refunds, while the current year reflects more accurate advance tax payments and fewer large adjustments at the assessment stage. Securities transaction tax remains stable Collections from Securities Transaction Tax (STT) remained broadly unchanged during the period. Read More: Union Budget 2026: 10 interesting facts that shaped Indias Budget over the years

India’s direct tax collections in FY 2025–2026 have risen 8.82 per cent so far, supported by steady corporate profits, higher personal income tax inflows and a sharp decline in refunds. With net collections touching Rs 18.38 lakh crore by January 11, the government enters the Budget season with 