Direct Tax Collections Hit Rs 17.04 Lakh Cr, Up 8% YoY; Below Budget Target

• Net direct tax collections reached Rs 17.04 lakh crore by December 17, FY26.
• This marks an 8% year-on-year increase, falling short of the 16.1% Budget projection for FY26.
• Total advance tax after the third installment stood at Rs 7.88 lakh crore, up from Rs 7.56 lakh crore last fiscal.
• Net corporate tax grew 10.5% to Rs 8.17 lakh crore; non-corporate tax rose 6.37% to Rs 8.47 lakh crore.
• Refunds decreased by 13.52% to Rs 2.97 lakh crore compared to the same period last fiscal.

Why It Matters: Direct tax collections grew 8% to Rs 17.04 lakh crore, but missed the Budget's 16.1% target.