Net direct tax mop-up jumps 16% to Rs 6.5 lakh crore

New Delhi: India's net direct tax collections, after refunds, rose 16.4% to ₹6.51 lakh crore as of July 13, supported by healthy corporate earnings and resilient formal sector incomes despite the West Asia crisis.

Growth was led by corporate tax, which increased 22% to ₹2.40 lakh crore in the April-July 13 period. Non-corporate tax collections grew 11.7% to ₹3.85 lakh crore, while securities transaction tax stood at ₹26,429 crore as of July 13, official data showed on Tuesday.

With the ongoing filing season, collections are expected to improve further. The last date for filing income tax returns for FY26 is July 31.


Experts said the latest numbers indicate that tax collections remain robust and signal healthy revenue growth in FY27, providing fiscal headroom for the government.

"Corporate earnings do not seem to have been hit by the war or a slowdown, and profits appear largely insulated," said Rohinton Sidhwa, partner at Deloitte India.

Gross direct tax collections, before adjusting for refunds, stood at ₹7.74 lakh crore, up 16.1%.

The government issued refunds worth ₹1.22 lakh crore, 14.6% higher than in the same period last year.

The Centre has budgeted to collect ₹26.97 lakh crore from direct taxes in the current financial year, targeting 15% growth over ₹23.40 lakh crore in the previous fiscal.