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India’s net direct tax collection rose 23.09 per cent year-on-year to more than INR 8.11 lakh crore in the current fiscal year up to the latest available period. Corporate tax collections increased 19.83 per cent, while non-corporate taxes, including personal income tax, grew 23 per cent. Securities Transaction Tax revenue also recorded a sharp 51 per cent increase. The government issued INR 1.43 lakh crore in refunds during the period. Gross direct tax collection stood at about INR 9.55 lakh crore, while the Centre has set a target of INR 26.97 lakh crore for the full fiscal year.
India’s net direct tax collection rose 23.09 per cent to more than INR 8.11 lakh crore in the current fiscal year up to August 10, according to government data.
Net corporate tax collection increased 19.83 per cent to around INR 2.70 lakh crore during the period. Non-corporate tax collection, which includes personal income tax, recorded a 23 per cent rise to INR 5.07 lakh crore.
Revenue from the Securities Transaction Tax (STT) also increased sharply, rising 51 per cent to INR 33,824 crore. The rise in STT collections comes alongside higher tax receipts from corporate and individual taxpayers.
The government issued INR 1.43 lakh crore in refunds between April 1 and August 10, representing a 3.8 per cent increase compared with the corresponding period of the previous year.
On a gross basis, which includes corporate tax, personal income tax and STT, direct tax collection increased 19.75 per cent to around INR 9.55 lakh crore during the period. The difference between gross and net collections reflects the refunds issued to taxpayers.
The latest collection figures come after direct tax collections had also shown steady growth earlier in the fiscal year. Government data for the first few months of FY27 had indicated continued growth in both corporate and non-corporate tax receipts.
For the full FY27, the government has budgeted direct tax collections of INR 26.97 lakh crore, which is 15 per cent higher than the INR 23.40 lakh crore collected in FY26. Official data showed that total direct tax collection for FY26 stood at INR 23.40 lakh crore.
The latest numbers therefore put the government’s tax collections on a higher growth path in the first part of the financial year, although the final outcome will depend on collections and refunds through the remaining months.
Source PTI
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