New Delhi: The net direct tax collections rose 7% year-on-year to ₹ 12.92 trillion as of 10 November, reflecting steady inflows from corporate and personal income taxes despite a moderation in overall growth compared to last year.

The receipts, which include corporate tax, personal income tax, and securities transaction tax (STT), represent about 49% of the ₹ 25.2 trillion target set for FY26. Before accounting for refunds, gross direct tax collections stood at ₹ 15.35 trillion, up 2.15% from a year earlier, according to data released by the Income Tax Department on Tuesday.

Refunds totalling ₹ 2.43 trillion have been issued so far this fiscal, an 18% decline from the same period last year.

The fall is largely due to smaller refunds for non-corporate taxpayers, even as corporate

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