The Centre’s total direct tax collection in 2026-27 up to July 13 saw a growth of 16.11% year-on-year to approx. $7.74 lakh crore driven by higher corporate and non-corporate tax revenues, according to government data released on Tuesday.
Despite the large non-corporate tax refunds, net direct tax collections in this period also jumped year-on-year by 16.4% to $6.51 million crore, demonstrating the resilience of the Indian economy.
Total direct tax revenues for the Center from April 1, 2026 to July 13, 2026 $Rs 7,73,681.68 crore. After refunds $Net revenue reached 1,22,491.87 crores $Rs 6,51,189.81 crore.
Refunds increased during this period from approx $1.07 crore in the same period of the previous financial year $1.22 lakh crore, registering a jump of 14.57%.
The direct tax collection trend is strong, showing improvement compared to data released last month. Total direct tax collection in 2026-27 (until June 17) saw an increase of 12.46% year-on-year to approx. $6.1 million, and net direct tax revenues jumped by 14.64% to $5.21 million crores.
Total corporate tax (CT) collections in FY27 to July 13 were $3,35,386.27 crores, an increase of 15.6% from $2,90,130.54 crore in the same period of FY26.
After refunds $95,144.63 crore, net cash transfer revenue in the period (April 1, 2026 to July 13, 2026) witnessed a jump of over 22% to $2,40,241.64 Crores as compared to $1,96,905.48 in the same period last year.
The increase in net cash transfer collections is due to only a 2.06% increase in refunds this year through July compared to $Rs 93,225.07 crore was recovered in the same period of the previous year.
Total non-corporate tax (NCT) collections in FY27 to July 13 jumped just over 15% to $4,11,853.80 Crores from $3,58,058.12 crore in the same period of FY26.
The NCT consists primarily of personal income tax, which is mostly paid by individuals.
NCT taxpayers saw significantly higher refunds $27,332.57 crore in the period from April 1 to July 13 of FY27 compared to $13,684.21 crore in the corresponding period of the previous fiscal, registering a jump of 99.74%.
Despite higher recoveries, NCT’s net revenue in the current period saw double-digit growth of 11.66% to $3,84,521.23 Crores as compared to $3,44,373.91 crore in the same period of the previous financial year, the data showed.
Securities Transaction Tax (STT) collections in the current financial year (until July 13) saw a jump of 47.85% to $26,428.96 Crores Vs $17,875.88 crore in the same period of the previous fiscal, indicating strong trading in the stock market.
