ITR filing 2026-27: Gross direct tax collections jump 16.1% to ₹7.74 lakh crore in FY27 so far

India's direct tax collections maintained a strong growth trajectory in the current financial year, with both gross and net collections rising over 16% as of July 13, driven by robust corporate and non-corporate tax receipts.

Gross direct tax collections for FY 2026-27 stood at ₹7,73,681.68 crore as on July 13, 2026, marking a 16.11% increase from ₹6,66,337.20 crore collected during the corresponding period of FY 2025-26, according to data released by the Income Tax Department.

Corporate tax collections rose to ₹3,35,386.27 crore, up from ₹2,90,130.54 crore a year earlier. Meanwhile, 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 — grew to ₹4,11,853.80 crore from ₹3,58,058.12 crore.

Collections from the Securities Transaction Tax (STT) also registered healthy growth, increasing to ₹26,428.96 crore from ₹17,875.88 crore in the same period last year. Other taxes contributed ₹12.65 crore to the gross collections.

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The government also stepped up tax refunds during the period. Refunds worth ₹1,22,491.87 crore were issued as of July 13, 2026, compared with ₹1,06,912.48 crore in the year-ago period, reflecting a 14.57% increase. Faster refunds are aimed at improving taxpayer services and easing liquidity for businesses and individuals.

After accounting for refunds, net direct tax collections stood at ₹6,51,189.81 crore, up 16.40% from ₹5,59,424.72 crore collected during the corresponding period of FY 2025-26.

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Within the net collections, corporate tax contributed ₹2,40,241.64 crore, while non-corporate taxes accounted for ₹3,84,521.23 crore. Net STT collections stood at ₹26,428.96 crore.

The latest figures indicate that both corporate earnings and personal income tax collections have remained resilient despite global economic uncertainties. The stronger growth in non-corporate taxes also points to steady income tax payments by individuals and non-corporate entities.

Direct taxes, comprising corporate tax and personal income tax, are among the Centre's largest sources of revenue and play a crucial role in financing government expenditure. The collection trend in the coming months, particularly during the advance tax payment cycles, will be closely watched as it provides an early indication of economic activity and the government's ability to meet its budgeted revenue targets for FY 2026-27.

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