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Once the income tax return is verified and processed, refunds are issued by the Income Tax Department through the State Bank of India, which handles refund disbursement on behalf of the government, according to the Income Tax Department. It is generally credited directly to the taxpayer’s pre-validated bank account linked with PAN. (Image: Canva)
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CNBC TV18•11-02-2026, 20:22

Direct Tax Collections Surge 9.4% to ₹19.43 Lakh Crore, Corporate Tax Leads Growth

  • •Net direct tax collections reached ₹19.43 lakh crore by February 10, marking a 9.4% year-on-year increase.
  • •Corporate tax was the primary growth driver, with net collections rising 14.51% to ₹8.90 lakh crore.
  • •Non-corporate tax collections, including personal income tax, grew 5.91% to ₹10.03 lakh crore.
  • •Refunds decreased by 18.82% to ₹3.34 lakh crore, contributing to higher net collections.
  • •Gross direct tax collections increased 4.09% to ₹22.78 lakh crore, reflecting stronger compliance.
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