Net Direct Tax Collections Grow 14.6% YoY To Rs 5.21 Tn In FY27 So Far: Govt Data

New Delhi, Jun 19 (KNN) India's net direct tax collections rose 14.64 per cent year-on-year (YoY) to Rs 5.21 trillion during April 1 to June 17 of the current financial year (FY27), up from Rs 4.5 trillion in the corresponding period of FY26, according to data released by the Income Tax Department on Thursday.

Gross direct tax collections increased 12.46 per cent to Rs 6.10 trillion, compared with Rs 5.42 trillion a year earlier. Refunds issued during the period rose 1.19 per cent to Rs 89,026 crore, against Rs 87,979 crore in the same period last year.

Corporate and Non-Corporate Tax Growth

Net corporate tax collections rose 22.47 per cent to Rs 2.08 trillion, up from Rs 1.7 trillion a year ago. On a gross basis, corporate tax collections stood at Rs 2.77 trillion. 

Net collections from non-corporate taxes — which include levies on individuals, Hindu Undivided Families (HUFs), firms, associations of persons, bodies of individuals, local authorities and artificial juridical persons — rose 8.40 per cent to Rs 2.94 trillion, while gross non-corporate tax receipts stood at Rs 3.15 trillion.

Securities Transaction Tax (STT) collections stood at Rs 18,856 crore for the period, up from Rs 13,013 crore in the corresponding period of the previous fiscal.

Advance Tax Collections Register Double-Digit Growth

Total advance tax collections rose 15.30 per cent to Rs 1.78 trillion as on June 17, compared with Rs 1.54 trillion in the same period last year. Advance corporate tax collections increased 16.01 per cent to Rs 1.41 trillion, while advance non-corporate tax collections grew 12.73 per cent to Rs 37,620 crore.

The strong growth in advance tax receipts is being viewed as an early indicator of healthy income and profitability trends among taxpayers in the current financial year.

(KNN Bureau)