Net Direct Taxes Grow 6.33% in Current Fiscal

Current Context: India’s net direct tax revenue has grown by 6.33% year-on-year, reaching ₹11.89 lakh crore in FY 2025–26 up to October 12, 2025, as per CBDT (Income Tax Department, Ministry of Finance) data.

• Gross collections stood at ₹13.92 lakh crore, while refunds worth ₹2.03 lakh crore were issued, marking a 16% decline from last year.
• Corporate tax collections rose modestly to ₹5.02 lakh crore (↑2.06%), whereas non-corporate tax collections surged to ₹6.56 lakh crore (↑10.49%).
• Securities Transaction Tax (STT) contributed ₹30,878 crore, showing a marginal growth of 0.81%.
• The growth trend is largely driven by higher personal income tax inflows and lower refunds, even as corporate tax growth remained subdued.
• This performance highlights the government’s steady revenue mobilisation in the first half of the fiscal year.

Question:

Q.1 As per the Central Board of Direct Taxes (CBDT) data, India’s net direct tax revenue for the financial year (FY) 2025–26 up to October 12, 2025, stood at:
a) ₹10.56 lakh crore
b) ₹11.89 lakh crore
c) ₹12.45 lakh crore
d) ₹13.92 lakh crore

Answer: b) The Central Board of Direct Taxes (CBDT) reported that net direct tax collections (after issuing refunds) reached ₹11.89 lakh crore, reflecting a 6.33% year-on-year (YoY) growth.