India’s direct tax collection has gone up by 7%, crossing Rs 12.9 trillion so far in the 2025–26 financial year, shows data released by the Income Tax Department on November 11, 2025. The numbers are for taxes collected up to November 10, 2025.
Net direct tax stood at over Rs 12.92 trillion, up from Rs 12.07 trillion in the same period last year. Direct tax includes money paid straight to the government, such as income tax, property tax, and tax on assets owned by individuals.
Gross tax collection — the amount before refunds — also rose slightly by 2.15%. It touched Rs 15.35 trillion, compared to Rs 15.02 trillion last year.
While tax collection increased, refunds dipped sharply. — 17.72% lower than Rs 2.94 trillion refunded last year.
This fall may suggest two things: fewer people are claiming refunds, or a portion of taxpayers who earlier paid in cash may not be in the system any more. Some also believe the government might be processing refunds more cautiously this year.
The data shows that personal income tax, especially from non-corporate taxpayers, is holding strong even though tax rates were cut last year.
This points to healthier earnings among salaried people and small business owners.
Securities Transaction Tax (STT), which is collected on share market trades, remained almost the same as last year — Rs 35,682 crore compared to Rs 35,923 crore.
This suggests the stock market has largely been moving sideways, though the ongoing IPO wave could boost numbers in the months ahead.