Fiscal Year Tax Collections Show 16% Growth, Hits ₹7.74 Lakh Crore

Mumbai, July 14 – The latest government statistics reveal that India’s gross direct tax collection for the fiscal year up to July 13 has increased by 16.11 percent, reaching ₹7.74 lakh crore.

The rise is driven by higher corporate and non‑corporate tax contributions as well as an expanded Securities Transaction Tax (STT) base. Net direct tax, which excludes refunds, grew 16.4 percent year‑on‑year to ₹6.51 lakh crore.

Refunds issued in the same period rose 14.57 percent, amounting to ₹1.22 lakh crore. After adjusting for refunds, corporate tax collection stood at ₹2.40 lakh crore, up from ₹1.97 lakh crore last year, while non‑corporate tax receipts grew to ₹3.85 lakh crore from ₹3.44 lakh crore.

Gross corporate tax, including refunds, was ₹3.35 lakh crore, and gross non‑corporate tax was ₹4.12 lakh crore, both higher than the previous year’s figures. STT’s net collection increased substantially to ₹26,428.96 crore, compared with ₹17,875.88 crore a year earlier.

Other taxes registered a slight negative balance of ₹2.02 crore, a stark change from the positive ₹269.45 crore recorded a year earlier. The upward trend in tax collections reflects a resilient economy and continued domestic strength.