India’s net direct tax collections rose 11.76% to Rs 14.42 lakh crore by November 10. Growth was driven by strong corporate tax and Securities Transaction Tax (STT) inflows, despite a significant rise in tax refunds issued during the same period.
Direct Tax Revenue Growth
India’s net direct tax collections increased 11.76 per cent year-on-year to Rs 14.42 lakh crore in the current financial year till November 10, driven by strong growth in corporate tax and Securities Transaction Tax (STT) collections, according to data released by the Income Tax Department.
The data showed that net direct tax collections rose to Rs 14.42 lakh crore from Rs 12.90 lakh crore during the corresponding period of the previous financial year. Gross direct tax collections, which represent tax receipts before adjusting for refunds, increased 14.02 per cent to Rs 17.50 lakh crore, compared to Rs 15.35 lakh crore during the same period last year.
Breakdown of Tax Collections
According to the Income Tax Department’s data, net corporate tax collections increased to Rs 6.32 lakh crore from Rs 5.36 lakh crore in the corresponding period last year, registering a growth of approximately 17.84 per cent.
Net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities, rose to Rs 7.56 lakh crore from Rs 7.18 lakh crore, reflecting a growth of around 5.30 per cent. Securities Transaction Tax (STT) collections also recorded a sharp increase of approximately 51.56 per cent to Rs 54,077.90 crore, compared to Rs 35,681.88 crore in the year-ago period.
Tax Refund Trends
Meanwhile, direct tax refunds increased by nearly 26 per cent to Rs 3.08 lakh crore during the current financial year till November 10, compared to the same period last year. The data showed that total tax refunds stood at Rs 3.08 lakh crore as of November 10, 2026, compared to Rs 2.45 lakh crore during the corresponding period of the previous financial year. The figures indicate that refunds grew at a faster pace than gross tax collections during the period.
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