India’s net direct tax collections rose 14.64 per cent year-on-year to Rs 5.21 lakh crore during the period from April 1 to June 17 of the current financial year, according to data released by the Income Tax Department on Thursday.

The growth was driven by strong corporate tax collections and higher receipts from securities transaction tax (STT), even as tax refunds recorded a marginal increase compared with the corresponding period of the previous financial year.

Corporate Tax Collections Register Strong Growth

According to the Income Tax Department, net corporate tax collections stood at Rs 2.08 lakh crore as of June 17, marking a 22.4 per cent increase over the same period last year.

Net non-corporate tax collections, which include personal income tax, amounted to Rs 2.93 lakh crore, registering an increase of 8.4 per cent year-on-year.

The data indicated that corporate tax receipts outpaced growth in non-corporate tax collections during the first two-and-a-half months of FY27.

STT Collections Witness Sharp Rise

Revenue from Securities Transaction Tax recorded robust growth during the period under review.

STT collections stood at Rs 18,856 crore till June 17, compared with Rs 13,013 crore in the corresponding period of the previous financial year.

This represents a year-on-year increase of 44.9 per cent, making it one of the fastest-growing components of direct tax revenues in the current fiscal.

Refunds See Marginal Increase

Tax refunds issued between April 1 and June 17 stood at Rs 89,025 crore, according to the official data.

Refunds were 1.19 per cent higher than the Rs 87,979 crore issued during the same period in FY26.

The increase in refunds came alongside higher overall collections, contributing to the net direct tax figures reported by the department.

Gross Direct Tax Collections Cross Rs 6 Lakh Crore

Gross direct tax collections reached Rs 6.10 lakh crore during the period from April 1 to June 17.

The gross tax mop-up recorded a growth of 12.46 per cent over the corresponding period of the previous financial year.

The latest figures indicate continued momentum in tax revenues during the early months of FY27, supported by strong corporate earnings and increased market-related tax collections.

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