India's Direct Tax Collections Soar 8.82% in FY26, Driven by Corporate & Individual Payments

Carry-forward of losses takes a hit: One of the biggest downsides of missing the deadline is the loss of carry-forward benefits for certain losses. Business losses, capital losses and some other deductions cannot be carried forward if the return is filed belatedly. This can raise your tax liability in future years.

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CNBC TV18•12-01-2026, 20:00

India's Direct Tax Collections Soar 8.82% in FY26, Driven by Corporate & Individual Payments

•India's net direct tax collections increased by 8.82% year-on-year up to January 11, 2026.
•Gross direct tax collections reached ₹21,49,831.89 crore, a 4.14% growth from the previous year.
•Corporate tax collections rose to ₹10,46,574.28 crore, while non-corporate taxes hit ₹10,58,046.13 crore.
•Refunds issued declined by 16.92% to ₹3,11,933.57 crore, contributing to higher net collections.
•Net direct tax collections stood at ₹18,37,898.32 crore, reflecting strong tax mobilisation.

Why It Matters: India's direct tax revenue surged significantly in FY26, indicating robust economic activity and compliance.

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