India Net Direct Tax Collections Rise 16.4% to Rs 6.51 Lakh Crore

The Government of India reported that net direct tax collections rose 16.4% year-on-year to Rs 6.51 lakh crore as of July 13, 2026. According to data from the Income Tax Department, the growth was driven by increases across corporate, non-corporate, and securities transaction tax (STT) streams. Net corporate tax collections grew over 22% to Rs 2.40 lakh crore, while non-corporate tax collections increased approximately 12% to Rs 3.85 lakh crore.

STT collections experienced the most significant growth, jumping over 44% to more than Rs 26,000 crore. Gross direct tax collections reached Rs 7.74 lakh crore, though tax refunds also rose 14.57% to Rs 1.22 lakh crore. These figures contribute toward the national direct tax collection target of Rs 26.97 lakh crore for the current fiscal year.

Separately, the Controller General of Accounts reported a fiscal deficit of Rs 1.624 lakh crore for the April-May period. This amount represents 9.6% of the full-year fiscal deficit target of Rs 16.96 lakh crore.