India's Net Direct Tax Collections Rise 13.2% To Rs 13.38 Lakh Crore

India's net direct tax collections rose 13.21% year on year to Rs 13.38 lakh crore as of October 14 in FY27, according to data from the Income Tax Department. The increase came even as tax refunds climbed 24.22% from a year earlier, reaching Rs 2.65 lakh crore.

Gross direct tax collections rose 14.89% to Rs 16.03 lakh crore in the period, compared with Rs 13.95 lakh crore as of October 14, 2025. Refunds stood at Rs 2.13 lakh crore in the corresponding period last year.

The figures provide an update on the government's direct tax receipts for the financial year that began on April 1, 2026. Net collections account for refunds issued during the period, while gross collections are reported before refunds.

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Corporate Tax Collections Rise 20.6%

Net corporate tax collections increased 20.57% to Rs 5.99 lakh crore as of October 14, compared with Rs 4.97 lakh crore a year earlier.

Net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families, firms and other entities, rose 5.84% to Rs 6.92 lakh crore from Rs 6.54 lakh crore.

Securities transaction tax collections increased 51.58% to Rs 46,840.43 crore from Rs 30,901.81 crore in the year-earlier period.

Refunds Increase 24.2%

Total refunds rose to Rs 2.65 lakh crore from Rs 2.13 lakh crore a year earlier, an increase of 24.22%.

Corporate tax refunds increased to Rs 1.54 lakh crore from Rs 1.47 lakh crore, while non-corporate tax refunds rose to Rs 1.11 lakh crore from Rs 66,549.75 crore.

The data, sourced from TINMIS, showed that other tax collections were negligible during the period, with net collections at minus Rs 1.64 crore.

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