India’s net direct tax collections have recorded a year-on-year growth of 11.76%, reaching ₹14.42 lakh crore for the period starting April 1 up to November 10, 2026. According to provisional data released by the Income Tax Department, the surge was primarily supported by corporate tax receipts, which grew by approximately 17.84% to ₹6.32 lakh crore compared to the same period in the previous financial year.
Growth in non-corporate tax collections—which encompass taxes from individuals, Hindu Undivided Families, and various firms—was more modest at 5.30%, rising to ₹7.56 lakh crore from ₹7.18 lakh crore. Overall, gross direct tax collections, calculated before accounting for refunds, rose by 14.02% to ₹17.50 lakh crore, up from ₹15.35 lakh crore recorded in the year-ago period.
The Income Tax Department reported a significant increase in the volume of tax refunds issued, which grew by nearly 26% to ₹3.08 lakh crore. The Economic Times noted that these refunds rose from ₹2.45 lakh crore in the corresponding period last year. Livemint reported that non-corporate tax refunds specifically saw a sharp rise of nearly 54% to reach ₹1.39 lakh crore, while corporate tax refunds increased by 9.6% to ₹1.70 lakh crore.
Collections from the Securities Transaction Tax (STT) also experienced a notable increase of approximately 51.56%, climbing to ₹54,078 crore from ₹35,682 crore. This rise occurs as the government evaluates stakeholder feedback regarding potential adjustments to long-term capital gains tax and STT ahead of the Union Budget for the upcoming financial year.
Key facts
- Net direct tax collections reached ₹14.42 lakh crore by November 10, 2026.
- Corporate tax receipts grew by 17.84%, outperforming the 5.30% growth in non-corporate taxes.
- Gross direct tax collections increased to ₹17.50 lakh crore, a 14.02% rise.
- Total tax refunds issued during the period amounted to ₹3.08 lakh crore.
- Securities Transaction Tax (STT) collections rose by approximately 51.56% to ₹54,078 crore.
Why it matters
The government has set a target to collect ₹26.97 lakh crore from direct taxes for the current financial year. As of November 10, the collected amount of ₹17.50 lakh crore accounts for approximately 65% of this full-year budget goal. This performance is set against the backdrop of broader economic indicators, including revised growth forecasts for the Indian economy for FY27 from institutions such as Moody's Ratings, the International Monetary Fund, and the Reserve Bank of India.
Source: Economic Times, Livemint
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