Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27

Key facts

• Direct tax collections after refunds rose 13.2% year-on-year to Rs 13.38 lakh crore as of October 14, meeting 49.6% of the Budget's Rs 26.97 lakh crore direct tax target for FY27.
• Gross direct tax collections up to October 14 rose 14.9% year-on-year to Rs 16.03 lakh crore, higher than the 11.4% growth projected in the Budget for FY27.
• Securities Transaction Tax (STT) collections rose 51.6% to Rs 46,840 crore till October 14, against a Budget projection of Rs 73,700 crore (15.8% growth) for FY27, aided partly by higher STT rates on equity derivatives effective April 2026.
• Corporate tax collections after refunds rose 20.6% year-on-year to Rs 5.99 lakh crore, achieving 49% of the FY27 Budget target of Rs 12.31 lakh crore.
• Non-corporate tax collections after refunds rose 5.8% year-on-year to Rs 6.92 lakh crore; before refunds they rose 11.5% to Rs 8.03 lakh crore, with refunds jumping 67% as of October 14.
• Total refunds in FY27 up to October 14 stood at Rs 2,65,199.14 crore, a 24.22% jump from Rs 2,13,491.41 crore in the same period of FY26.