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India's net direct tax collections grew 14.64 per cent year-on-year to Rs 5.21 lakh crore as of June 17 in the current financial year (FY 2026-27), led by strong growth in both corporate and non-corporate tax collections, according to data released by the Income Tax Department.
The data showed that net direct tax collections stood at Rs 5,21,024.82 crore as on June 17, 2026, compared with Rs 4,54,499.18 crore collected during the corresponding period of FY 2025-26. Gross direct tax collections rose 12.46 per cent year-on-year to Rs 6,10,050.53 crore from Rs 5,42,478.57 crore a year earlier. Refunds issued during the period increased marginally by 1.19 per cent to Rs 89,025.71 crore, compared with Rs 87,979.39 crore in the same period last year. Among the major tax categories, corporate tax collections on a gross basis rose to Rs 2,76,538.46 crore from Rs 2,48,415.90 crore, registering growth of around 11.3 per cent. Gross non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms, Associations of Persons (AoPs), Bodies of Individuals (BoIs), local authorities and artificial juridical persons, increased to Rs 3,14,653.07 crore from Rs 2,80,790.28 crore. Securities Transaction Tax (STT) collections recorded a sharp increase, rising to Rs 18,856.12 crore from Rs 13,013.02 crore in the year-ago period. On a net basis, corporate tax collections stood at Rs 2,08,233.47 crore, up from Rs 1,70,071.09 crore a year ago. Net non-corporate tax collections rose to Rs 2,93,937.56 crore from Rs 2,71,157.81 crore. The data also showed healthy growth in advance tax collections, often seen as an indicator of income and profit trends. Advance tax collections for FY27 as of June 17 stood at Rs 1,78,373.06 crore, up 15.30 per cent from Rs 1,54,706.02 crore collected during the same period last year. Corporate advance tax collections increased 16.01 per cent to Rs 1,40,752.74 crore, while non-corporate advance tax collections rose 12.73 per cent to Rs 37,620.32 crore. The figures indicate continued momentum in direct tax revenues in the early months of the financial year, supported by growth in both corporate and non-corporate tax payments. (ANI)
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