India's Net Direct Tax Collections Rise 13.21% to Rs 13.38 Lakh Crore by Mid-October

India’s net direct tax collections stood at Rs 13,37,866.98 crore as of 14 October in the financial year 2026-27, a 13.21 per cent increase over the Rs 11,81,786.98 crore collected in the same period last year, according to data released by the Income Tax Department.

Gross collections before refunds rose 14.89 per cent to Rs 16,03,066.12 crore from Rs 13,95,278.39 crore a year earlier. Refunds issued increased more sharply, by 24.22 per cent, to Rs 2,65,199.14 crore from Rs 2,13,491.41 crore. The faster growth in refunds moderated the net figure relative to the gross expansion.

On a net basis, corporate tax collections reached Rs 5,99,062.48 crore, up 20.57 per cent from Rs 4,96,798.62 crore in the corresponding period of 2025-26. Non-corporate tax, which includes payments by individuals, Hindu Undivided Families, firms and other entities, rose 5.84 per cent to Rs 6,91,965.71 crore from Rs 6,53,804.16 crore. Securities transaction tax collections climbed 51.58 per cent to Rs 46,840.43 crore from Rs 30,901.81 crore.

Gross corporate tax receipts were Rs 7,52,961.56 crore against Rs 6,43,721.45 crore last year. Gross non-corporate tax stood at Rs 8,03,245.26 crore compared with Rs 7,20,353.91 crore. The Income Tax Department published the figures on its national website on 15 October.

The data cover the period from 1 April to 14 October. They show continued expansion in the corporate tax base even after higher refund outflows. The sharp rise in securities transaction tax receipts tracks increased trading volumes on equity markets during the first half of the fiscal year. Officials have not yet released a full-year projection or a breakdown by state or by type of assessee beyond the broad corporate and non-corporate categories.

Net collections of Rs 13.38 lakh crore by mid-October place the government on a trajectory above the corresponding point last year, when the full-year net direct tax collection ultimately exceeded Rs 19 lakh crore. Whether the present growth rate is sustained through the remaining months will depend on advance tax payments in December and March and on the volume of refunds processed in the second half of the year.