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India's net direct tax collections rose 13.21 per cent year-on-year to Rs 13.38 lakh crore as of October 14 in the financial year 2026-27, according to data released by the Income Tax Department, with refunds rising at a faster pace and gross collections increasing 14.89 per cent during the period.
Net direct tax collections stood at Rs 13,37,866.98 crore as of October 14, compared with Rs 11,81,786.98 crore in the corresponding period of the previous financial year, the data showed. Gross direct tax collections increased to Rs 16,03,066.12 crore from Rs 13,95,278.39 crore a year earlier. However, refunds rose 24.22 per cent to Rs 2,65,199.14 crore, compared with Rs 2,13,491.41 crore in the corresponding period last year. Among the major components, corporate tax collections stood at Rs 5,99,062.48 crore on a net basis, up from Rs 4,96,798.62 crore a year earlier. Net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families, firms and other entities, rose to Rs 6,91,965.71 crore from Rs 6,53,804.16 crore in the year-ago period. Securities Transaction Tax (STT) collections increased to Rs 46,840.43 crore from Rs 30,901.81 crore, reflecting a rise in collections from transactions in securities. The data also showed that gross corporate tax collections rose to Rs 7,52,961.56 crore from Rs 6,43,721.45 crore, while gross non-corporate tax collections increased to Rs 8,03,245.26 crore from Rs 7,20,353.91 crore. Refunds against corporate tax rose to Rs 1,53,899.08 crore from Rs 1,46,922.83 crore. Non-corporate tax refunds increased more sharply to Rs 1,11,279.55 crore from Rs 66,549.75 crore. The figures indicate that the growth in gross collections was partly offset by the increase in refunds, leaving net direct tax collections 13.21 per cent higher than in the corresponding period of FY2025-26. The data covers collections up to October 14, 2026, and provides a snapshot of direct tax receipts during the first half of the current financial year. (ANI)
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