India’s Net Direct Tax Collections Cross ₹13.38 Lakh Crore, Up 13.2% in FY27
What Happened
India’s net direct tax collections rose 13.21% year-on-year to ₹13.38 lakh crore as of October 14, FY27, according to data released by the Income Tax Department. Gross direct tax collections increased 14.89% to ₹16.03 lakh crore, while tax refunds climbed 24.22% to ₹2.65 lakh crore. Net corporate tax collections rose to ₹5.99 lakh crore, and net non-corporate tax collections reached ₹6.92 lakh crore.
Key Takeaways
The data indicates continued growth in government tax revenues, supported by stronger corporate and individual tax collections. However, a sharp rise in refunds reduced the pace of growth in net collections relative to gross tax receipts.