India’s net direct tax collection rises 16% to over ₹6.51 lakh crore in FY27

Direct tax mop-up grows 16% to over ₹6.51 lakh crore so far in FY27

Net corporate tax collection rose 22% to ₹2.40 lakh crore, and mop-up from net non-corporate tax (NCT), which includes taxes paid by individuals, HUFs, and firms, grew about 12 per cent to over ₹3.84 lakh crore till July 13

4 hours ago

Net direct tax collection grew over 16% between April 1 and July 16

Net corporate tax collection grew over 22% to around ₹2.40 lakh crore, while net non-corporate tax collection recorded increased around 12% to ₹3.85 lakh crore

4 hours ago

Net Direct Tax Collection Rises 16.4% To ₹6.51 Lakh Crore, Corporate Tax Growth Drives FY27 Revenue

New Delhi: India's net direct tax collection increased by 16.4 percent year-on-year to Rs 6.51 lakh crore as of July 13 in the current financial year (FY27), supported by strong growth in corporate tax collections, according to government data released on Tuesday.Corporate tax leadsNet corporate tax collections rose 22 percent to Rs 2.40 lakh crore, reflecting improved tax payments by companies. The higher collections indicate steady business activity and healthy corporate earnings during the early months of the financial year.Gross GST Collections Rise 6.2% To Over ₹1.93 Lakh Crore In January Individual tax collection risesNet non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs) and partnership firms, also recorded healthy growth. Collections increased by around 12 percent to more than Rs 3.84 lakh crore during the same period.The steady rise in personal income tax collections points to continued growth in employment, incomes and business activity.Higher refunds issuedThe government issued Rs 1.22 lakh crore in tax refunds till July 13, up 14.57 percent from the corresponding period last year.Higher refunds help taxpayers receive excess tax payments faster while improving the efficiency of the income tax system.Gross collections remain strongOn a gross basis, direct tax collections rose 16.11 percent to more than Rs 7.73 lakh crore.Budget 2026 Outlook: FY27 Tax Revenue Growth, Strong Capex Push And Stable Fiscal Deficit To Support EconomyOf the total, gross corporate tax collections stood at over Rs 3.35 lakh crore, while gross non-corporate tax collections reached around Rs 4.12 lakh crore.FY27 targetThe Union Budget has set a direct tax collection target of Rs 26.97 lakh crore for FY27. This is nearly 15 percent higher than the Rs 23.40 lakh crore collected during FY26.The strong growth in collections during the first few months of the financial year suggests that tax revenues remain on track, supported by higher corporate tax payments and steady growth in personal income tax collections.India's net direct tax collection grew 16.4 percent to Rs 6.51 lakh crore by July 13 in FY27, led by a 22 percent rise in corporate tax collections. Gross collections also remained strong, while tax refunds increased 14.6 percent, keeping the government on track towards its annual target.

4 hours ago