India’s net direct tax collection grew 16.4% year-on-year to Rs 6.51 lakh crore as of July 13 in FY27.
According to data released by the Income Tax Department the growth was driven by higher corporate tax mop-up. Net corporate tax collection rose 22% to Rs 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% to over Rs 3.84 lakh crore till July 13.
Gross direct tax collections cross Rs 7.7 lakh crore
Gross direct tax collections also recorded strong growth. They rose 16.11% to Rs 7.73 lakh crore from Rs 6.66 lakh crore a year ago. This includes corporate tax mop-up of over Rs 3.35 lakh crore and NCT of about Rs 4.12 lakh crore.
The government collected Rs 6.51 lakh crore in net direct taxes during the period, compared with Rs 5.59 lakh crore collected in the corresponding period of FY26.
Non-corporate tax, STT collections record healthy growth
Non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities, rose to Rs 4.12 lakh crore from Rs 3.58 lakh crore. Securities Transaction Tax (STT) collections also increased to Rs 26,428.96 crore from Rs 17,875.88 crore.
Refunds rise nearly 15%
Refunds worth Rs 1.22 lakh crore were issued during the period, up 14.57% over the year-ago period.
The government has budgeted to collect Rs 26.97 lakh crore from direct taxes in the current fiscal year, a 15 per cent growth over Rs 23.40 lakh crore collected in FY26.