India’s net direct tax collections rise 13% to ₹13.38 lakh crore by Oct 14

Direct tax collection up 13.21% to ₹13.38 lakh crore till Oct 14, driven by strong corporate tax growth and higher STT refunds

India's net direct tax collections reached Rs 13,37,866.98 crore for FY2026-27 as of October 14. Gross collections increased to Rs 16,03,066.12 crore, while refunds rose by 24.22 percent year-on-year. Net corporate tax receipts stood at Rs 5,99,062.48 crore, showing considerable growth from the previous year. Non-corporate tax collections also increased alongside significant rises in refunds in that category. Overall, direct tax receipts reflected a strong growth trend amid increasing refunds.

India's net direct tax collections rose 13.21% to Rs 13.38 lakh crore as of October 14, driven by higher corporate tax and securities transaction tax receipts. Gross collections increased 14.89% to Rs 16.03 lakh crore, while refunds jumped 24.22% to Rs 2.65 lakh crore.

Mumbai: India's net direct tax collections increased by 13.21 per cent to Rs 13.38 lakh crore in FY 2026-27 as of October 14, compared with Rs 11.82 lakh crore during the corresponding period last year, according to official tax collection data.Gross direct tax collections rose 14.89 percent to Rs 16.03 lakh crore from Rs 13.95 lakh crore, reflecting growth in corporate taxes, non-corporate taxes and securities transaction tax (STT).Corporate Tax Collections RiseNet corporate tax collections increased to Rs 5.99 lakh crore from Rs 4.97 lakh crore during the corresponding period of FY 2025-26.Gross corporate tax collections stood at Rs 7.53 lakh crore, compared with Rs 6.44 lakh crore last year.Source: Direct Tax Collections for FY 2026-27, TINMIS, as of October 14, 2026.The figures indicate higher corporate tax receipts during the current financial year.Non-Corporate Tax Revenue GrowsNet non-corporate tax collections, including taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities, reached Rs 6.92 lakh crore.This compares with Rs 6.54 lakh crore collected during the corresponding period last year.Direct Tax Collections Leap 8% To ₹17.05 Lakh Crore In April-DecemberGross non-corporate tax collections increased to Rs 8.03 lakh crore from Rs 7.20 lakh crore.Securities Transaction Tax SurgesSecurities Transaction Tax collections climbed to Rs 46,840.43 crore from Rs 30,901.81 crore during the corresponding period last year.The increase highlights stronger STT receipts, contributing to overall direct tax revenue growth.Tax Refunds Jump 24.22 percentTotal tax refunds increased 24.22 per cent to Rs 2.65 lakh crore, compared with Rs 2.13 lakh crore in the previous year. Budget 2026: Sitharaman Overhauls Direct Tax, Extends Immunity For 'Misreporting'Corporate tax refunds stood at Rs 1.54 lakh crore, while non-corporate tax refunds reached Rs 1.11 lakh crore.Despite higher refunds, net direct tax collections maintained double-digit growth.What The Figures Indicate?The latest figures show continued growth in direct tax receipts during FY 2026-27.However, refunds grew faster than gross collections, resulting in net collection growth of 13.21 percent.The data reflects collections recorded until October 14, 2026, rather than full-year revenue.