Net direct tax revenue jumps 6 pc to Rs 11.89 lakh cr till Oct 12

New Delhi, Oct 13 (PTI) Net direct tax collection grew 6.33 per cent so far this fiscal to over Rs 11.89 lakh crore due to higher corporate tax mop-up and slower refunds.

Refund issuances dropped 16 per cent to Rs 2.03 lakh crore between April 1 and October 12.

Between April 1 and October 12, net corporate tax collection stood at about Rs 5.02 lakh crore, up from Rs 4.92 lakh crore in the same period of 2024.

Non-corporate tax, which includes individuals and HUFs, mop up so far this fiscal stood at about Rs 6.56 lakh crore, up from over Rs 5.94 lakh crore in the same period last year.

Securities Transaction Tax (STT) collection stood at Rs 30,878 crore, up from Rs 30,630 crore in the year-ago period.

Net direct tax collection, which includes personal income tax and corporate tax, recorded a 6.33 per cent growth year-on-year at over Rs 11.89 lakh crore till October 12 this fiscal. It was about Rs 11.18 lakh crore in the year-ago period.

Gross direct tax collection, before adjusting refunds, stood at over Rs 13.92 lakh crore till October 12 this fiscal, a 2.36 per cent growth over the year-ago period.

In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26. PTI JD BAL BAL BAL