India's net direct tax collections grew 11.76 per cent to approximately Rs 14.42 lakh crore between April 1 and November 10 of the current financial year, driven by strong corporate tax receipts and a sharp increase in securities transaction tax (STT) collections, according to government data released on Wednesday.
Net corporate tax collections rose 18 per cent to Rs 6.32 lakh crore during the period, while net non-corporate tax collections, comprising taxes paid by individuals, firms and Hindu Undivided Families (HUFs), increased 5.3 per cent to approximately Rs 7.56 lakh crore.
Collections from securities transaction tax recorded a substantial 52 per cent increase to Rs 54,078 crore during the April 1-November 10 period of 2026-27.
The data also showed a significant rise in tax refunds, with issuances increasing 26 per cent year-on-year to Rs 3.08 lakh crore.
๐๐ฟ๐ผ๐๐ ๐ฐ๐ผ๐น๐น๐ฒ๐ฐ๐๐ถ๐ผ๐ป๐ ๐ฟ๐ถ๐๐ฒ ๐ญ๐ฐ%
On a gross basis, direct tax collections increased 14 per cent to Rs 17.50 lakh crore during the period under review.
This included gross corporate tax receipts of Rs 8.01 lakh crore and gross non-corporate tax collections of Rs 8.94 lakh crore.
The difference between gross and net collections reflects the tax refunds issued by the Income Tax Department during the financial year.
Despite the 26 per cent increase in refunds, net collections maintained double-digit growth, supported by higher corporate tax revenues.
๐๐ฌ๐ฎ๐ณ ๐๐ฎ๐ฟ๐ด๐ฒ๐ ๐ฎ๐ ๐ฅ๐ ๐ฎ๐ฒ.๐ต๐ณ ๐น๐ฎ๐ธ๐ต ๐ฐ๐ฟ๐ผ๐ฟ๐ฒ
The Union government has budgeted direct tax collections of Rs 26.97 lakh crore for the financial year 2026-27, representing a projected increase of 15 per cent over the Rs 23.40 lakh crore collected during 2025-26.
With net collections reaching approximately Rs 14.42 lakh crore by November 10, the government has achieved nearly 53 per cent of its annual budget estimate.
The figures indicate that corporate tax collections have grown faster than non-corporate tax receipts during the current financial year.
The sharp increase in securities transaction tax collections has also contributed to overall direct tax revenue growth.
The government will need to collect approximately Rs 12.55 lakh crore during the remainder of the financial year to meet its budgeted direct tax target.