India’s net direct tax collections rose 13.21% to ₹13.38 lakh crore by October 14, 2026, driven by higher corporate tax, non-corporate tax and STT receipts.
India’s net direct tax collections increased by 13.21 per cent year-on-year to ₹13.38 lakh crore as of October 14, 2026, in the current financial year (FY27). According to data released by the Income Tax Department, the growth was supported by higher receipts from corporate tax, non-corporate tax and Securities Transaction Tax (STT).
The latest figures indicate an increase in tax revenue compared with the corresponding period of the previous financial year. India’s net direct tax collections reflect taxes received from companies, individuals and other taxable entities after accounting for refunds issued by the department.
Gross Direct Tax Collections Reach ₹16.03 Lakh Crore
Gross direct tax collections, before adjusting for refunds, rose by 14.89 per cent to ₹16.03 lakh crore during the period under review. In the corresponding period of the previous financial year, gross collections stood at ₹13.95 lakh crore.
However, refunds issued by the Income Tax Department also recorded a significant increase. Refunds rose by 24.22 per cent to ₹2.65 lakh crore compared with the year-ago period.
The difference between gross collections and refunds determines the net tax revenue retained after refunds. The latest India’s net direct tax collections figures show that the overall net amount reached ₹13.38 lakh crore by October 14.
Net Corporate Tax Collections Increase to ₹5.99 Lakh Crore
Net corporate tax collections rose to ₹5.99 lakh crore during the period, compared with ₹4.97 lakh crore in the corresponding period last year.
On a gross basis, corporate tax collections increased to ₹7.53 lakh crore from ₹6.44 lakh crore a year earlier. The rise in corporate tax receipts was one of the key contributors to the growth in overall direct tax revenue.
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Non-corporate tax collections also recorded an increase. Net collections from this category, which includes taxes paid by individuals and other non-corporate entities, rose to ₹6.92 lakh crore from ₹6.54 lakh crore.
Gross non-corporate tax collections climbed to ₹8.03 lakh crore, compared with ₹7.20 lakh crore in the same period of the previous financial year.
Securities Transaction Tax Records Strong Growth
Receipts from Securities Transaction Tax (STT) registered a substantial increase during the period. Net STT collections reached ₹46,840.43 crore, up from ₹30,901.81 crore in the corresponding period last year.
Gross STT collections also stood at ₹46,840.43 crore, compared with ₹30,901.81 crore a year earlier.
In contrast, collections under the category of other taxes turned negative on a net basis, standing at minus ₹1.64 crore against positive collections of ₹282.39 crore in the year-ago period. Gross collections under this category fell to ₹18.87 crore from ₹301.22 crore.
What Is Included in Direct Tax Collections?
The direct tax data covers taxes paid by companies and individuals, along with Hindu Undivided Families (HUFs), firms, associations of persons, bodies of individuals, local authorities and artificial juridical persons.
The latest India’s net direct tax collections figures highlight the contribution of corporate taxes, individual and other non-corporate taxes, and STT to the government’s revenue.
With net collections reaching ₹13.38 lakh crore by October 14, the growth in direct tax receipts remains an important indicator of revenue performance during FY27. The figures also underline the impact of refunds on the difference between gross and net tax collections.
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