India's Net Direct Tax Collections Rise 16.4% to ₹6.51 Lakh Crore as of July 13

In the ongoing fiscal year, India’s tax revenues have performed significantly, with the net direct taxes reaching ₹6.51 trillion as of July 13, a year-on-year rise of 16.4%. It is evident from the latest figures released by the Income Tax Department that the increase in revenues came as a result of higher collections from companies as well as individual taxpayers, despite the government paying out significantly higher tax refunds. The current data also indicates the vibrant economy, improved compliance, and higher revenue receipts, painting a bright picture of the country’s fiscal position.

Net Direct Tax Collections Register Strong Growth

Despite of the larger payouts of refunds, the Income Tax Department has announced that net direct tax collections have reached ₹6.51 lakh crore, compared to ₹5.59 lakh crore for the same period last financial year.

Main highlights

Net Direct Tax collections: ₹6.51 lakh crore
Growth: 16.4% YoY
Collections in previous year: ₹5.59 lakh crore

There has been a sizeable jump in the corporate tax receipts.

Corporate Tax Collections

Corporate tax continues to be the largest component of total direct tax receipts.

Net Corporate Tax collections

FY 2026-27 (as on July 13): ₹2.40 lakh crore
FY 2025-26 (same period): ₹1.97 lakh crore

The rise indicates the return of good profitable corporate activity in various sectors of the economy.

Non-Corporate Tax Collections On The Rise

Non-corporate tax collections have also seen an upward spike.

Total Non-Corporate Tax Collections
This Year’s Figures: ₹3.85 lakh crore
Last Year’s Figures: ₹3.44 lakh crore

This segment is made up of taxes charged on account of the following entities

Individuals
Hindu Undivided Families (HUFs)
Partnership Firms
Associations of Persons (AoPs)
Bodies of Individuals (BoIs)
Municipal Authorities
Artificial juridical entities

The increase in numbers is attributed to the increase in persons being taxed and the improving compliance.

Strong Growth Recorded for Securities Transaction Tax (STT)

On the other hand, the collection from the securities transaction tax (STT) also experienced a surge in collection numbers.

The current year’s figures are reported as ₹26,429 crore, whereas the previous year’s collection was of ₹17,876 crore.

The increased figures can indicate increased activity in India’s securities and equity markets, as well as increased volume of tax collection.

However, the category of “Other Taxes” reported a minimal negative collection of ₹2.02 crore this time around, as opposed to it being ₹269.45 crore last year.