Net Direct Tax Collection Rises 12% to ₹14.42 Lakh Crore, Government Achieves 53% of FY27 Target

India's net direct tax collection rose nearly 12 per cent to ₹14.42 lakh crore between April 1 and November 10, reflecting strong growth in corporate tax receipts and a sharp increase in securities transaction tax (STT), according to government data released on Wednesday.

The collection represents around 53 per cent of the government's direct tax target of ₹26.97 lakh crore for the current financial year (FY27), indicating that more than half of the budgeted revenue has been mobilised in the first seven months of the fiscal year.

Net corporate tax collection grew 18 per cent year-on-year to ₹6.32 lakh crore, while net non-corporate tax receipts, which include taxes paid by individuals, firms and Hindu Undivided Families (HUFs), increased 5.3 per cent to approximately ₹7.56 lakh crore.

A notable increase was recorded in securities transaction tax, with collections surging 52 per cent to ₹54,078 crore during the April 1-November 10 period. The sharp rise comes amid increased activity in the stock market.

Meanwhile, the government issued tax refunds worth ₹3.08 lakh crore, marking a 26 per cent increase compared with the corresponding period last year.

On a gross basis, direct tax collection, before adjusting for refunds, increased 14 per cent to ₹17.50 lakh crore. This included gross corporate tax receipts of ₹8.01 lakh crore and non-corporate tax collections of ₹8.94 lakh crore.

For FY27, the government has set a direct tax collection target of ₹26.97 lakh crore, 15 per cent higher than the ₹23.40 lakh crore collected in FY26. The latest figures suggest that corporate taxes and securities transaction tax are providing significant support to revenue mobilisation.