India’s tax coffers swell as direct tax collections cross ₹22.8 lakh crore, up 7.2%

India's tax landscape has experienced a remarkable upturn, with net collections reaching an impressive ₹22.80 lakh crore as of March 17, 2026, marking a notable 7.19% growth compared to the previous year. The surge can be attributed to robust performances in both corporate and non-corporate tax sectors. While gross collections soared, the trend of refunds showed a decline.