The Centre's gross direct tax collections for the financial year 2026-27 reached nearly ₹7.74 lakh crore as of July 13, registering a year-on-year increase of 16.11%, driven by strong growth in both corporate and non-corporate tax revenues, according to government data released on Tuesday.
Even after accounting for a sharp rise in non-corporate tax refunds, net direct tax collections climbed 16.4% over the corresponding period last year to ₹6.51 lakh crore, reflecting continued resilience in the Indian economy.
Government data showed that gross direct tax collections between April 1 and July 13, 2026, stood at ₹7,73,681.68 crore. After refunds amounting to ₹1,22,491.87 crore, net collections were recorded at ₹6,51,189.81 crore.
Tax refunds during the period rose to ₹1.22 lakh crore from nearly ₹1.07 lakh crore in the corresponding period of the previous financial year, marking an increase of 14.57%.
The latest figures also indicate an improvement over the trend reported last month. Up to June 17, gross direct tax collections for 2026-27 had risen 12.46% year-on-year to around ₹6.1 lakh crore, while net direct tax revenue had increased 14.64% to ₹5.21 lakh crore.
Corporate tax collections continued to record healthy growth during the current fiscal. Gross corporate tax (CT) receipts between April 1 and July 13 stood at ₹3,35,386.27 crore, up 15.6% from ₹2,90,130.54 crore during the same period of FY26.
Following refunds of ₹95,144.63 crore, net corporate tax collections climbed by more than 22% to ₹2,40,241.64 crore, compared with ₹1,96,905.48 crore in the corresponding period last year.
The sharp rise in net corporate tax revenue was aided by only a modest increase in refunds, which grew 2.06% from ₹93,225.07 crore refunded during the same period of the previous financial year.
Gross non-corporate tax (NCT) collections also maintained strong momentum, rising by a little over 15% to ₹4,11,853.80 crore from ₹3,58,058.12 crore a year earlier.
Non-corporate tax primarily comprises personal income tax paid by individual taxpayers.
Refunds issued to non-corporate taxpayers almost doubled during the period, increasing 99.74% to ₹27,332.57 crore between April 1 and July 13, compared with ₹13,684.21 crore in the corresponding period of the previous fiscal.
Despite the sharp jump in refunds, net non-corporate tax collections still recorded double-digit growth, rising 11.66% to ₹3,84,521.23 crore from ₹3,44,373.91 crore in the same period last year.
Meanwhile, securities transaction tax (STT) collections reflected sustained activity in the equity markets. Collections under the levy surged 47.85% to ₹26,428.96 crore during the current financial year up to July 13, compared with ₹17,875.88 crore in the corresponding period of the previous fiscal, indicating robust stock market trading.
