India direct tax collections grow 13.2% to 13.38 lakh crore rupees through October 14

India's net direct tax collections grew by 13.21% year-on-year to reach ₹13.38 lakh crore between April 1 and October 14 in the 2026-27 financial year, according to official figures released by the Income Tax Department on October 15, 2026. In the corresponding period of the previous financial year, net direct tax collections stood at ₹11.82 lakh crore.

Gross direct tax collections before adjusting for refunds reached ₹16.03 lakh crore during the same April 1 to October 14 timeframe. This marks a 14.89% increase compared to the ₹13.95 lakh crore collected during the matching period of the prior financial year, data from the Ministry of Finance showed.

Corporate Tax and Non-Corporate Income Tax Growth

The rise in total direct tax collection was supported by growth in both corporate and non-corporate categories, with corporate tax payments leading the expansion. Net corporate tax collections reached ₹5.99 lakh crore for the period ending October 14, 2026. That figure reflects a 20.58% increase over the net corporate tax collected during the same timeframe in the previous year.

Non-corporate tax collections, which include personal income tax, grew at a slower rate over the same period. Collections in the non-corporate category totaled ₹6.92 lakh crore between April 1 and October 14, representing a 5.83% increase compared to the prior year's figures.

Securities Transaction Tax and Direct Tax Refunds

Receipts from the Securities Transaction Tax recorded the sharpest percentage growth among the direct tax categories reported. Tax receipts collected through the Securities Transaction Tax surged by 52% year-on-year to reach ₹46,840 crore during the period from April 1 to October 14, 2026.

The Income Tax Department also paid out a higher volume of refunds during the period. Total tax refunds issued between April 1 and October 14 rose to ₹2.65 lakh crore. That represents a 24.22% increase from the total value of tax refunds paid out during the corresponding period of the previous financial year.

The difference between the gross direct tax collections of ₹16.03 lakh crore and total refunds of ₹2.65 lakh crore yielded the final net collection figure of ₹13.38 lakh crore reported by official sources on October 15, 2026.