Central Board of Direct Taxes (CBDT) in India says it’s on track to hit its income‑tax collection goal for the 2026 fiscal year, according to Chairman Ravi Agrawal.
Speaking at the India International Trade Fair, Agrawal shared the latest numbers that show a steady rise in tax receipts. Direct‑tax collections have grown 6.99 % from the start of the year to 10 November, reaching over ₹12.92 lakh crore. That bump comes as refunds have slid 18 % to just over ₹2.42 lakh crore.
“Taxpayers are responding well, and we hope to reach the ₹25.20 lakh crore target by year‑end,” Agrawal said. He added that the deadline for filing audit returns for 2024‑25 has been pushed back and that two advance‑tax instalments still owe for the current year. By December 10, the CBDT expects to catch up.
Earlier data from the CBDT showed a 9.18 % jump in net direct‑tax revenue to ₹10.82 lakh crore through 17 September, a clear contrast to a 23.87 % fall in refunds during the same period. Non‑corporate tax — which includes entities not registered under the Companies Act — grew 13.67 % to ₹5.83 lakh crore. Corporate tax receipts rose 4.93 % to ₹4.72 lakh crore, and securities transaction tax (STT) edged up marginally by 0.57 % to ₹26,305.72 cr.
Overall, gross direct‑tax receipts rose 3.39 % to ₹12.43 lakh crore, while refunds dropped 23.87 % to ₹1.60 lakh crore. These figures underline India’s push to strengthen its tax base and meet the fiscal year’s income‑tax collection target.
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