India's net direct tax collection up 13% to ₹12.1L crore
What's the story
India's net direct tax collections have increased by a whopping 12.96% year-on-year, reaching ₹12.12 lakh crore as of September 17, for the financial year 2026-27. The data was released by the Income Tax Department today. Gross direct tax collections also saw a significant rise of 15.19%, amounting to ₹14.32 lakh crore during this period.
Financial trends
Refunds issued stood at ₹2.2L crore
The refunds issued by the department during this period stood at ₹2.20 lakh crore, witnessing a massive increase of 29.19% from last year.
Meanwhile, net corporate tax collections also saw a major jump to ₹5.56 lakh crore from last year's ₹4.65 lakh crore.
Net non-corporate tax collections too witnessed an increase, rising to ₹6.16 lakh crore from last year's ₹5.81 lakh crore figure.
Tax performance
Net collections from STT
Net collections from the Securities Transaction Tax (STT) witnessed a huge jump to ₹40,214.36 crore, compared to last year's ₹26,305.72 crore during the same period. On a gross basis, corporate tax collections increased significantly to ₹6.95 lakh crore from last year's ₹5.96 lakh crore figure.
Tax growth
Gross non-corporate tax collections saw a major jump
Gross non-corporate tax collections saw a major jump to ₹6.98 lakh crore from last year's ₹6.21 lakh crore figure during this period.
Gross STT collections stood at ₹40,214.36 crore, up from last year's ₹26,305.72 crore.
However, gross collections under other taxes were at ₹17.12 crore as compared to last year's ₹297.14 crore during this period.