India’s net direct tax revenue crossed Rs 13.38 lakh crore by October 14 in the financial year 2026-27, registering a 13.21 per cent increase over the corresponding period last year, according to the latest figures released by the Income Tax Department. The rise came alongside stronger gross collections, although a sharp increase in tax refunds moderated the growth in net receipts.
Net direct tax collections amounted to Rs 13,37,866.98 crore as of October 14, compared with Rs 11,81,786.98 crore recorded during the same period in FY2025-26. Gross collections grew at a faster rate of 14.89 per cent, showing an increase in tax receipts before refunds were deducted.
Gross direct tax collections climbed to Rs 16,03,066.12 crore from Rs 13,95,278.39 crore in the year-ago period. However, total refunds also increased substantially, rising 24.22 per cent to Rs 2,65,199.14 crore from Rs 2,13,491.41 crore.
The faster pace of refunds partly offset the gains in gross revenue, resulting in a more moderate increase in net collections. The figures offer an indication of the government’s direct tax receipts during the first half of the current financial year.
Corporate Tax Collections Show Strong Growth
Net corporate tax collections stood at Rs 5,99,062.48 crore by October 14, compared with Rs 4,96,798.62 crore during the corresponding period last year. Gross corporate tax receipts also recorded an increase, reaching Rs 7,52,961.56 crore against Rs 6,43,721.45 crore a year earlier. Refunds issued against corporate tax rose to Rs 1,53,899.08 crore from Rs 1,46,922.83 crore.
The figures show that corporate taxes remained a major contributor to the overall direct tax revenue collected during the period.
Net non-corporate tax collections increased to Rs 6,91,965.71 crore from Rs 6,53,804.16 crore in the year-ago period. This category includes taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities.
Gross non-corporate tax collections reached Rs 8,03,245.26 crore, compared with Rs 7,20,353.91 crore in the corresponding period of the previous financial year.
Refunds in this segment registered a sharper increase than those in the corporate category. Non-corporate tax refunds rose to Rs 1,11,279.55 crore from Rs 66,549.75 crore, contributing to the difference between gross and net collection growth.
Securities Transaction Tax (STT) collections also registered a notable increase during the period. Receipts from STT climbed to Rs 46,840.43 crore as of October 14, compared with Rs 30,901.81 crore in the corresponding period last year.