India’s income tax department announced on Thursday that the net direct tax mop‑up for FY 2026‑27 has climbed to ₹13.38 lakh crore as of October 14, an increase of 13.21 percent from ₹11.81 lakh crore a year earlier. The jump comes as gross collections rose 14.89 percent to ₹16.03 lakh crore, while refunds surged 24.22 percent to ₹2.65 lakh crore.
Corporate tax receipts also edged higher. Net corporate tax stood at ₹5.99 lakh crore, up from ₹4.97 lakh crore, and gross corporate collections reached ₹7.53 lakh crore compared with ₹6.44 lakh crore last year. Refunds to corporate taxpayers rose to ₹1.54 lakh crore, a rise of only 5.5 percent over the previous period.
Non‑corporate tax collections climbed to ₹6.92 lakh crore, up 5.4 percent from ₹6.54 lakh crore. Gross non‑corporate receipts hit ₹8.03 lakh crore versus ₹7.20 lakh crore, while refunds jumped to ₹1.11 lakh crore, more than doubling from ₹0.67 lakh crore a year before.
Securities‑transaction tax (STT) collections surged to ₹46.84 lakh crore, up 51 percent from ₹30.90 lakh crore in the same period last year – a reflection of heightened trading activity.
The figures carry real‑world implications. Karnataka farmer Ramesh Singh, who filed his returns last week, said the higher refund helped him pay the 20 percent GST on his produce. “I can finally invest in new seeds,” he told local media.
The finance ministry will review these numbers before the December budget session, where the government is expected to outline new revenue‑raising measures. The data will also inform the upcoming fiscal policy discussion on tax reforms and refund mechanisms.