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Net direct tax collection grows 13% so far in FY27, hits 50% of full year budget target
Oct-16-2026

The government data has shown the net direct tax collection has grown 13.21% to about Rs 13.38 lakh crore so far (as on October 14, 2026) this financial year (FY27), reaching about 50% of the full year budget target. The government has budgeted to collect Rs 26.97 lakh crore from direct taxes in the current financial year, a 15% growth over Rs 23.40 lakh crore collected in FY26. 

The growth in direct tax collection between April 1 and October 14 this fiscal is driven by a robust 20% growth in corporate taxes, despite a 67% increase in refunds to non-corporate taxpayers, which include individuals, firms and HUFs. 

On a gross basis, direct tax collection rose 15% to Rs 16.03 lakh crore till October 14. This included corporate tax collection of Rs 7.53 lakh crore, non-corporate tax of Rs 8.03 lakh crore and Rs 46,840 crore Securities transaction tax (STT), which swell about 52% year-on-year (YoY). Meanwhile, refund issuances to both corporate and non-corporate taxpayers soared 24% YoY to Rs 2.65 lakh crore during the period.

On net basis, corporate tax mop-up grew 20.58% to over Rs 5.99 lakh crore so far this fiscal year, while non-corporate tax rose 5.83% to about Rs 6.92 lakh crore. The budget target for STT is Rs 73,700 crore for the fiscal.

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