New Delhi, September 18 (Daily Kiran) : India’s direct tax collection has seen a significant increase of 13% this fiscal year, reaching ₹12.12 lakh crore as of September 17, 2026. This information was released by the Central Board of Direct Taxes (CBDT) on Friday.
According to government data, the gross direct tax collection has surged by over 15% year-on-year, totaling ₹14.3 lakh crore. Corporate tax collections have risen by 19.48%, amounting to nearly ₹5.56 lakh crore. Meanwhile, personal income tax and tax collection from Hindu Undivided Families (HUF) increased by 6%, surpassing ₹6.16 lakh crore. Comparatively, Securities Transaction Tax (STT) collections have jumped by 53% to ₹40,214 crore during the same period last year.
The data also reveals that the issuance of refunds has increased by more than 29%, exceeding ₹2.2 lakh crore. As of September 17, advance tax collections rose by 16.18%, reaching ₹5.22 lakh crore. This includes a notable 18% increase in advance corporate tax collections, totaling ₹4.16 lakh crore, while non-corporate advance tax collections grew by 9.24%, reaching ₹1.06 lakh crore.
Government figures released at the end of last month indicate that India’s fiscal deficit for the first four months of the fiscal year 2026-27 stood at ₹4.55 lakh crore, accounting for 26.8% of the annual target. This figure is lower than the fiscal deficit of ₹4.7 lakh crore recorded during the same period last year, which represented 29.9% of the annual estimate.
For the fiscal year 2027, the central government has set a fiscal deficit budget of ₹16.96 lakh crore, equivalent to 4.3% of the country’s GDP. The government successfully achieved a fiscal deficit target of 4.4% for the fiscal year 2025-26 and has now reduced it to 4.3% for the current fiscal year as part of fiscal consolidation efforts.
A reduction in the fiscal deficit strengthens the economy’s foundation and paves the way for stable growth in prices. This, in turn, reduces government borrowing, allowing more funds to be available for lending to corporations and consumers in the banking sector, thereby accelerating economic growth.
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