India net direct tax collections rise 11.76% to ₹14.42 lakh crore

Net direct tax collections in India reached ₹14.42 lakh crore through November 10 in the 2026-27 fiscal year, up 11.76% from the same period a year earlier, according to Income Tax Department data. The total represents about 53% of the government’s ₹26.97 lakh crore target for the year.

Gross direct tax collections rose 14.02% to ₹17.50 lakh crore, compared with ₹15.35 lakh crore in the corresponding period of 2025-26. Refunds increased more quickly, rising 25.91% to about ₹3.08 lakh crore from roughly ₹2.45 lakh crore. Net collections account for those refunds.

Net corporate tax collections climbed 17.8% to ₹6.32 lakh crore, while net noncorporate collections rose 5.3% to ₹7.56 lakh crore. Noncorporate taxes include payments by individuals, Hindu Undivided Families, firms and other entities. The figures show corporate taxes contributed more to net collection growth over the period.

Securities transaction tax collections increased about 51.6% to ₹54,078 crore. The FY27 budget raised the STT rates on futures and options, and the increase in collections has been attributed in part to those higher rates. STT is included in direct tax receipts.

The pace of refunds has affected how...