Direct tax collections rise 7.1% to Rs 22.8 lakh crore till March 17; corporate tax drives growth

India’s net direct tax collection increased 7.1 per cent to about Rs 22.8 lakh crore till March 17 in the current financial year, aided by higher corporate tax mop-up and slower refund outgo, according to official data released on Wednesday.Data shared by the Income Tax Department showed that net corporate tax collection grew by around 13 per cent to Rs 9.68 lakh crore, while taxes from non-corporates -- including individuals and Hindu Undivided Families (HUFs) -- rose 3 per cent to nearly Rs 11.32 lakh crore, PTI reported.Collections from the Securities Transaction Tax (STT) stood at Rs 55,717 crore between April 1, 2025, and March 17, 2026, compared with Rs 53,095 crore in the corresponding period of the previous financial year, registering a 5 per cent increase.Tax refund issuance during the period declined 6 per cent to Rs 4.34 lakh crore.Advance tax collections rose 6.4 per cent to Rs 11.13 lakh crore across four instalments, with the final tranche closing on March 15, the department said. However, advance tax receipts in the non-corporate segment recorded a decline of 1.78 per cent to Rs 2.83 lakh crore as of March 17, 2026, compared with Rs 2.88 lakh crore in the same period a year earlier.Corporate advance tax collections, on the other hand, increased 9.5 per cent to Rs 8.29 lakh crore from Rs 7.57 lakh crore as of March 17, 2025.Gross direct tax collections rose 4.8 per cent to Rs 27.15 lakh crore during the period under review. This included gross corporate tax collections of Rs 13.47 lakh crore and non-corporate tax collections of Rs 13.11 lakh crore.In the Revised Estimates for the ongoing financial year 2025–26, the government has projected total direct tax collections at Rs 24.84 lakh crore.