India’s net direct tax collections climbed 11.76 per cent year-on-year to reach Rs 14.42 lakh crore as of November 10 in the current financial year (FY27), according to official data released by the Income Tax Department on Wednesday. During the corresponding period of the previous fiscal year, net direct tax receipts stood at Rs 12.90 lakh crore.
Gross direct tax collections, prior to adjusting for taxpayer refunds, grew 14.02 per cent to Rs 17.50 lakh crore, compared with Rs 15.35 lakh crore recorded in the same period a year ago. Concurrently, direct tax refunds issued up to November 10 expanded by nearly 26 per cent to Rs 3.08 lakh crore.
Breakdown of Direct Tax Receipts (Up to November 10)
Segment Performance and Taxpayer Base
Corporate tax receipts led the overall expansion, rising to Rs 6.32 lakh crore from Rs 5.36 lakh crore in the year-ago period. Net non-corporate tax collections—which encompass levies paid by individuals, Hindu Undivided Families (HUFs), firms, and other entities—increased to Rs 7.56 lakh crore from Rs 7.18 lakh crore last year.
Meanwhile, Securities Transaction Tax (STT) mop-up witnessed a sharp jump of 51.56 per cent, climbing to Rs 54,077.90 crore against Rs 35,681.88 crore in the corresponding period of FY26. Overall, these direct tax figures account for collections across companies, individuals, HUFs, firms, associations of persons (AoPs), bodies of individuals (BoIs), local authorities, and artificial juridical persons.
Progress Toward the FY27 Budget Target
For the full 2026–27 financial year, the Union government has set an ambitious direct tax collection target of Rs 26.97 lakh crore, reflecting a 15 per cent increase over the Rs 23.40 lakh crore garnered in FY26. With net direct tax collections reaching Rs 14.42 lakh crore by November 10, the exchequer has already achieved approximately 53 per cent of its annual budgeted target.
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