Business News | India's Net Direct Tax Collections Rise 16.4% YoY to Rs 6.51 Lakh Crore as of July 13
Get latest articles and stories on Business at LatestLY. India's net direct tax collections rose 16.4 per cent year-on-year to Rs 6.51 lakh crore as on July 13, 2026, reflecting healthy growth in both corporate and non-corporate tax receipts despite a rise in refunds, according to the latest data released by the Income Tax Department.
New Delhi [India], July 14 (ANI): India's net direct tax collections rose 16.4 per cent year-on-year to Rs 6.51 lakh crore as on July 13, 2026, reflecting healthy growth in both corporate and non-corporate tax receipts despite a rise in refunds, according to the latest data released by the Income Tax Department.
The data showed that net collections increased from Rs 5.59 lakh crore in the corresponding period of the previous financial year. The growth was driven by robust gains in both corporate tax and non-corporate tax collections.
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Net corporate tax collections stood at Rs 2.40 lakh crore, compared with Rs 1.97 lakh crore in the year-ago period. Meanwhile, net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms, Associations of Persons (AoPs), Bodies of Individuals (BoIs), local authorities and artificial juridical persons, rose to Rs 3.85 lakh crore from Rs 3.44 lakh crore.
Collections from the Securities Transaction Tax (STT) also registered a sharp increase, rising to Rs 26,429 crore from Rs 17,876 crore a year earlier. However, net collections under the "other taxes" category turned sharply negative at Rs 2.02 crore, compared with Rs 269.45 crore in the same period last year.
On a gross basis, direct tax collections increased 16.11 per cent year-on-year to Rs 7.74 lakh crore, up from Rs 6.66 lakh crore recorded as on July 13, 2025.
Gross corporate tax collections rose to Rs 3.35 lakh crore from Rs 2.90 lakh crore, while gross non-corporate tax collections increased to Rs 4.12 lakh crore from Rs 3.58 lakh crore. STT collections also climbed to Rs 26,429 crore, compared with Rs 17,876 crore in the corresponding period last year.
The government also issued refunds worth Rs 1.22 lakh crore during the period, marking a 14.57 per cent increase over Rs 1.07 lakh crore refunded in the same period of FY26. Refunds under corporate tax stood at Rs 95,145 crore, while non-corporate tax refunds amounted to Rs 27,333 crore, according to the official data. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)