New Delhi, Oct 15: India's net direct tax collections rose 13.21% year-on-year to Rs 13.38 lakh crore as of October 14 in the current financial year, according to data released by the Income Tax Department.

Net direct tax collections stood at Rs 13,37,866.98 crore as of October 14, 2026, compared with Rs 11,81,786.98 crore in the corresponding period of the previous financial year, the data showed.

Gross direct tax collections increased 14.89% to Rs 16,03,066.12 crore during the period, from Rs 13,95,278.39 crore a year earlier.

However, refunds issued during the period rose at a faster pace, increasing 24.22% year-on-year to Rs 2,65,199.14 crore, compared with Rs 2,13,491.41 crore as of October 14, 2025.

Corporate tax collections rise

Net corporate tax collections stood at Rs 5,99,062.48 crore as of October 14, up from Rs 4,96,798.62 crore in the corresponding period last year.

Net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms, associations of persons, bodies of individuals and other specified entities, rose to Rs 6,91,965.71 crore from Rs 6,53,804.16 crore a year earlier.

Securities Transaction Tax (STT) collections increased to Rs 46,840.43 crore, compared with Rs 30,901.81 crore in the corresponding period of the previous financial year.

The data also showed that collections under the other taxes category stood at Rs -1.64 crore on a net basis, against Rs 282.39 crore a year earlier.

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Refunds increase 24.22%

Refunds issued by the department totalled Rs 2,65,199.14 crore as of October 14, 2026, against Rs 2,13,491.41 crore in the corresponding period of the previous financial year.

Refunds under the corporate tax category increased to Rs 1,53,899.08 crore from Rs 1,46,922.83 crore. Refunds under non-corporate taxes rose to Rs 1,11,279.55 crore from Rs 66,549.75 crore.

The figures indicate that net direct tax collections continued to grow despite the higher outgo on refunds.

The data, sourced from the Tax Information Network Management Information System (TINMIS), covers direct tax collections for the financial year 2026-27 up to October 14.