India’s net direct tax collections rose 14.6% year-on-year to ₹5.21 lakh crore as of June 17 in the current financial year, driven by strong growth in both corporate and non-corporate tax receipts, according to official data released by the Income Tax Department.Net direct tax collections stood at ₹5.21 lakh crore in FY27 compared with ₹4.54 lakh crore during the corresponding period last year. Gross direct tax collections increased 12.5% to ₹6.10 lakh crore, while refunds issued rose 1.2% to ₹89,026 crore.
Corporate tax collections recorded the strongest growth among major categories. Net corporate tax collections rose 22.4% year-on-year to ₹2.08 lakh crore from ₹1.70 lakh crore a year ago. Net non-corporate tax collections, which include taxes paid by individuals, firms, HUFs and other entities, increased 8.4% to ₹2.94 lakh crore.
Advance tax collections also remained robust, rising 15.3% to ₹1.78 lakh crore as of June 17.Advance corporate tax collections increased 16% to ₹1.41 lakh crore, while advance non-corporate tax collections grew 12.7% to ₹37,620 crore.Securities Transaction Tax (STT) collections saw particularly strong growth, rising to ₹18,856 crore from ₹13,013 crore in the year-ago period, reflecting continued activity in capital markets.The latest numbers indicate healthy tax buoyancy in the early months of FY27, supported by strong corporate profitability, steady economic activity and sustained advance tax payments by businesses and individuals.
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