India’s gross direct tax collections for FY2025-26 reached ₹12.92 lakh crore as of November 10, reflecting 7% year-on-year growth. Corporate tax contributed ₹5.37 lakh crore, while personal income tax accounted for the remainder. The Finance Ministry highlighted improved compliance and stronger corporate profitability as key drivers. Refunds worth ₹1.78 lakh crore have been issued so far this fiscal. The growth in tax receipts underscores sustained business activity and formalization of the economy despite global uncertainties.