NEW DELHI, Dec. 20 -- The central government's direct tax revenue collection, after adjusting for refunds, stood at Rs.17 lakh crore in the April to mid-December period, rising 8% year-on-year, official data showed. The growth was slower than the 13% increase projected, as tax rate relief granted to individuals moderated revenue growth from personal income taxes. Data released by the Central Board of Direct Taxes (CBDT) on Friday showed that tax receipts from corporations and individuals between April 1 and December 17 accounted for about two-thirds of the full-year target of Rs.25.2 lakh crore. Companies paid a little over Rs.8.17 lakh crore during the period after adjusting for refunds, registering a 10.5% increase year-on-year, in line with the growth rate projected in the Union Budget for FY26, presented on 1 February. Individuals have paid about Rs.8.47 lakh crore so far this financial year after adjusting for refunds, marking a 6.4% annual growth. However, this is slower than the 14.4% growth projected for net personal income tax receipts this year. In this year's budget, the government lowered personal income tax slab rates and offered a rebate for individuals with income up to Rs.12 lakh (Rs.12.75 lakh for salaried individuals) to boost household consumption, savings, and investment. The data also showed that the tax department issued refunds worth Rs.2.97 lakh crore so far this fiscal, 13.5% lower than the refunds issued during the same period a year ago. At gross level, corporate tax collection grew 7.5%, and non-corporate tax, mainly individual income tax collection, grew 1.3% annually during this year. In the budgets for FY25 and FY26, the government rationalized tax deducted at source (TDS) and tax collected at source (TCS), which, according to officials, has led to reduced refunds this year. The Centre collected Rs.40,195 crore in securities transaction tax (STT) so far this year, a tad above the STT receipts from the year-ago period. The government's net direct tax collection increased by 8% so far this year, mainly on account of reduction in refund disbursals, said Anita Basrur, partner at Sudit K. Parekh & Co. LLP, a chartered accountancy firm. "The net advance tax collection for the year has grown by 4.27%. This mainly is on account of increased advance tax payments by corporations which is almost 8% as against a reduction in advance tax by non-corporate persons which has fallen by 6.5%. The reduction in non-corporate tax collection is mainly on account of new personal tax regime where there was reduction in rates across slabs," said Basrur. The income tax department is currently engaging with taxpayers to encourage voluntary compliance wherever gaps are detected in tax returns and remains hopeful of meeting its direct-tax collection target by the end of the financial year, CBDT chairman Ravi Agrawal said on 17 November....