India's net direct tax collections rose 11.76 per cent year-on-year to Rs 14.42 lakh crore in the current financial year till November 10, according to data released by the Income Tax Department on Wednesday, November 11.

Source: IANS

The collections stood at Rs 12.90 lakh crore in the corresponding period of the previous financial year. Gross direct tax collections, before adjusting for refunds, increased 14.02 per cent to Rs 17.50 lakh crore, compared with Rs 15.35 lakh crore a year earlier.

Source: ANI via Devdiscourse

Rs 14.42 lakh croreNet direct tax collections till Nov 10
11.76%Year-on-year growth
Rs 17.50 lakh croreGross collections, up 14.02%
Rs 3.08 lakh croreRefunds issued, up nearly 26%

Corporate tax drove the increase: net corporate tax collections grew 17.84 per cent to Rs 6.32 lakh crore, from Rs 5.36 lakh crore in the same period last year. Collections from the Securities Transaction Tax (STT) jumped 51.56 per cent, reflecting heavy activity in equity markets.

Refunds also rose faster than gross collections. Total refunds stood at Rs 3.08 lakh crore as of November 10, compared with Rs 2.45 lakh crore in the corresponding period last year — an increase of nearly 26 per cent.

The government has budgeted Rs 26.97 lakh crore in direct taxes for the current financial year, a 15 per cent increase over the Rs 23.40 lakh crore collected in FY26. With Rs 14.42 lakh crore already in, about 53 per cent of the full-year target has been achieved with more than four months of the financial year still to run.

Source: Reuters via TradingView

The direct tax figures cover taxes paid by companies as well as individuals, Hindu Undivided Families, firms, associations of persons, bodies of individuals, local authorities and artificial juridical persons, the department's data showed.