Direct tax collections for FY25 cross ₹11.89 lakh crore
India's net direct tax collections hit ₹11.89 lakh crore so far this fiscal, up 6.33% from last year, according to the Income Tax Department.
The big drivers? Higher corporate taxes and fewer refunds going out.
Gross collections also nudged up to ₹13.92 lakh crore compared to ₹13.60 lakh crore last year.
Individual and HUF taxes see significant jump
Corporate taxes rose slightly from ₹4.91 lakh crore to ₹5.02 lakh crore, while taxes paid by individuals and HUFs jumped from ₹5.94 lakh crore to ₹6.56 lakh crore.
Even the Securities Transaction Tax (STT) saw a small boost, reaching nearly ₹31,000 crore this year.
Government sets ambitious targets for FY26
Looking ahead to FY26 (that's April 2025-March 2026), the government is aiming even higher: a direct tax collection target of ₹25.20 lakh crore—a 12.7% jump—and an STT goal of ₹78,000 crore as India pushes for stronger compliance and a healthier economy overall.