Net direct tax collection surges 16.4% in FY27
The government data has showed that net direct tax collection increased 16.40 per cent to over Rs 6.51 lakh crore till July 13 of the current financial year (FY27). The growth was largely driven by higher corporate tax mop-up.
During the period, net corporate tax collection rose 22 per cent to Rs 2.40 lakh crore, while net non-corporate tax (NCT) collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs) and firms, grew nearly 12 per cent to over Rs 3.84 lakh crore. The government issued refunds worth Rs 1.22 lakh crore till July 13, marking a 14.57 per cent increase over the corresponding period last year.
On a gross basis, direct tax collection increased 16.11 per cent to over Rs 7.73 lakh crore. Gross corporate tax collections stood at over Rs 3.35 lakh crore, while gross non-corporate tax (NCT) collections reached about Rs 4.12 lakh crore. For FY27, the government has set a direct tax collection target of Rs 26.97 lakh crore, representing a 15 per cent increase over the Rs 23.40 lakh crore collected in FY26.
