India's net direct tax collections increased 11.8% year-on-year to ₹14.42 lakh crore as of Nov 10 in the financial year 2026-27 (FY27).
According to a report by Business Standard, citing provisional Income Tax Department data, collections stood at ₹12.90 lakh crore during the corresponding period last year.
The latest figure represents 53.5% of the government's annual Budget Estimate of ₹26.97 lakh crore.
Gross direct tax collections rose 14% to ₹17.50 lakh crore, but higher refunds moderated growth in net revenue.
Refunds increased 25.9% to ₹3.08 lakh crore from ₹2.45 lakh crore a year earlier.
Corporate Tax Collections Outpace Non-Corporate Revenue
Corporate tax collections recorded stronger growth than non-corporate taxes during the period.
Gross corporate tax revenue increased 16% to ₹8.01 lakh crore, while net collections climbed 17.8% to ₹6.32 lakh crore.
Non-corporate taxes, including personal income tax, registered slower growth.
Gross collections rose 10.7% to ₹8.95 lakh crore, while net receipts increased 5.3% to ₹7.56 lakh crore.
Non-corporate tax refunds surged 54% to ₹1.39 lakh crore, compared with ₹90,127 crore last year. Corporate tax refunds increased 9.6% to ₹1.70 lakh crore.
Meanwhile, securities transaction tax (STT) collections jumped 51.6% to ₹54,078 crore, making it the fastest-growing major direct tax component.
The government has budgeted ₹26.97 lakh crore in direct tax revenue for FY27, requiring approximately 15.3% growth over the previous financial year's actual collections of ₹23.40 lakh crore.
These developments could help the government achieve its annual direct tax collection target despite the recent increase in refunds.
