India’s net direct tax collection rose by 11.76 percent year-on-year to Rs 14.42 lakh crore between April 1 and November 10, according to figures released by the Income Tax Department. The data shows that the net direct tax collection in the corresponding period of last financial year was Rs. 12.90 lakh crore, which has now increased to Rs. 14.42 lakh crore has happened. Gross direct tax collection (which includes tax receipts before adjusting refunds) in the same period last year was Rs. 15.35 lakh crore, up 14.02% to Rs. 17.50 lakh crores.

Net Corporate Tax Collection

Meanwhile, net corporate tax collection rose to Rs. 6.32 lakh crore which in the same period last year was Rs. 5.36 lakh crore, showing an increase of about 17.84 percent. Net non-corporate tax collection – which includes taxes paid by individuals, Hindu Undivided Families (HUF), firms and other entities – increased from Rs 7.18 lakh crore to Rs. 7.56 lakh crore, showing a growth of about 5.30 per cent.

Tremendous surge in STT collection

The Securities Transaction Tax (STT) collection has also recorded a huge increase of around 51.56 percent. It was Rs. 35,681.88 crore to Rs. 54,077.90 crores. Compared to the same period last year, direct tax refunds in the current financial year till November 10 increased by nearly 26 per cent to Rs. 3.08 lakh crore has been reached.

Tax refunds have also increased

According to the data, the total tax refund till November 10, 2026 was Rs 3.08 lakh crore, compared to Rs 2.45 lakh crore in the same period last fiscal. The government in the current financial year from direct taxes Rs. 26.97 lakh crore is targeted to be raised, which will be raised in FY 2026 from Rs. 23.40 lakh crore is 15 percent more than Rs. Out of this Rs. 14.42 lakh crore – i.e. about 53 per cent of the budget target – has been achieved till November 10.