New Delhi, Dec. 20 -- Gross direct tax collections in nearly nine months of the current financial year (up to December 17) have seen a 4.16% annualized growth to a little over Rs.20 lakh crore, driven by higher corporate tax revenues, according to government data released on Friday. Collections appear to have picked up since the past month as numbers released in November recorded a modest 2.15% increase in the revenue to Rs.15.35 lakh crore (up to November 10). The Union budget has estimated Rs.25.20 lakh crore of direct tax collections in the current financial year, a 12.65% growth over revised estimates (RE) of 2024-25, comprising Rs.10.82 lakh crore corporate tax (CT) and Rs.14.38 lakh crore non-corporate tax (NCT) collections. Net direct tax revenue saw 8% growth to Rs.17.05 lakh crore in 2025-26 (up to December 17) on a sharp fall in refunds as compared to Rs.15.78 lakh crore in the same period the previous fiscal year, the data showed. Total tax refunds so far (including both CT and NCT) in the current financial year (up to December 17) were Rs.2,97,069.02 crore, about 13.52% lower than Rs.3,43,499.23 crore in the corresponding period last year, according to the latest data of the Central Board of Direct Taxes (CBDT). Experts said decline in refunds is because of various factors, such as increased efficiency in accurate tax deposits and better tax administration. "Tax refunds issuance has dropped much below last year numbers while overall tax collection has grown marginally at 4%. The drop in refunds is being attributed to a higher amount of screening of fraudulent refund claims," Rohinton Sidhwa, partner at Deloitte India said. The latest data suggests better corporate performance. Direct tax revenues showed corporates paid more tax and claimed fewer refunds. Gross CT collections in 2025-26 (up to December 17) saw an annualized increase of 7.54% to Rs.9,94,577.20 crore....