Net direct tax collections rose 23.09% year-on-year to Rs8.11 lakh crore in the first four months of 2026-27 through August 8, driven by higher collections from non-corporate taxpayers and a sharp increase in Securities Transaction Tax (STT), according to data released by the Department of Revenue on Tuesday.
The government had collected Rs6.59 lakh crore in net direct taxes during the corresponding period last year.
Gross direct tax collections rose 19.75% to Rs 9.54 lakh crore during the period, compared with Rs7.97 lakh crore a year ago. Refunds increased at a much slower pace, rising 3.79% to Rs 1.43 lakh crore.
“Data shows strong growth in gross non-corporate taxes and STT collections, and a slowdown in refunds. This is leading to 23% growth in net collections. It is expected, however, that the pace of refunds will increase over the next few months,” said Rohinton Sidhwa, Partner, Deloitte India.
Non-corporate tax was the largest contributor to direct tax collections. Gross non-corporate tax collections rose nearly 22% to Rs 5.40 lakh crore from Rs 4.42 lakh crore in the year-ago period. After accounting for refunds, net collections stood at Rs 5.07 lakh crore, up from Rs4.10 lakh crore a year ago.
Gross corporate tax collections rose nearly 14% to Rs 3.80 lakh crore, while net corporate tax collections increased nearly 22% to Rs 2.70 lakh crore.
STT collections jumped to ₹33,820 crore as of August 10, from Rs 22,350 crore in the corresponding period last year, an increase of more than 50%.