India’s net direct tax collections increased 11.76 per cent year-on-year to ₹14.42 lakh crore during FY27 up to November 10, according to data released by the Income Tax Department. Gross direct tax collections rose 14.02 per cent to ₹17.50 lakh crore, while the government achieved approximately 53 per cent of its full-year direct tax collection target.
Net collections stood at ₹12.90 lakh crore during the corresponding period of the previous financial year.
Gross direct tax collections, before adjustment for refunds, increased to ₹17.50 lakh crore from ₹15.35 lakh crore in the year-ago period. The latest figures indicate continued growth in direct tax receipts during the current fiscal year.
Net corporate tax collections rose to ₹6.32 lakh crore from ₹5.36 lakh crore during the corresponding period last year. Meanwhile, net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities, increased to ₹7.56 lakh crore from ₹7.18 lakh crore.
Securities Transaction Tax Collections Surge 51.56%
One of the notable developments in the latest tax figures was the sharp increase in Securities Transaction Tax (STT) collections. These rose 51.56 per cent to ₹54,077.90 crore as of November 10, compared with ₹35,681.88 crore in the corresponding period last year.
Direct tax refunds also increased during the period. Refunds issued in the current financial year up to November 10 rose nearly 26 per cent to ₹3.08 lakh crore compared with the year-ago period.
The direct tax figures cover collections from companies, individuals, Hindu Undivided Families, firms, associations of persons, bodies of individuals, local authorities and artificial juridical persons.
Government Achieves 53% of FY27 Direct Tax Target
The government has budgeted to collect ₹26.97 lakh crore through direct taxes in FY27, representing a 15 per cent increase over the ₹23.40 lakh crore collected during FY26.
With net direct tax collections reaching ₹14.42 lakh crore by November 10, the government has achieved approximately 53 per cent of its full-year collection target.
The growth in corporate and non-corporate tax receipts, alongside higher STT collections, has contributed to the increase in direct tax revenues during the current financial year.
India’s net direct tax collections have recorded double-digit growth in FY27, reaching ₹14.42 lakh crore by November 10. With more than half of the annual target already achieved, the latest figures highlight the rise in corporate and non-corporate tax receipts as well as higher securities transaction tax collections.
