India’s net direct tax collections have risen sharply in the current financial year, reflecting strong momentum in corporate and non‑corporate revenues. By July 13, FY27 collections stood at ₹6.51 lakh crore, marking a 16.4% increase compared with the same period last year. This growth comes despite higher refunds being issued to taxpayers.
Gross direct tax collections reached ₹7.73 lakh crore, showing a 16.11% rise. Corporate tax collections contributed significantly, climbing 22% to ₹2.40 lakh crore. Non‑corporate tax receipts also showed healthy growth, rising 12% to nearly ₹3.85 lakh crore. Refunds worth ₹1.22 lakh crore were released, which is 14.57% higher than the previous year.
The government has set a target of ₹26.97 lakh crore for direct tax collections in FY27, representing a 15% increase over FY26. The current pace of growth suggests that the target is achievable, provided the economic momentum continues. Strong corporate earnings, steady compliance, and improved tax administration have supported this rise.
The figures underline the resilience of India’s tax base and highlight the role of direct taxes in funding government expenditure. With both corporate and non‑corporate segments contributing, the revenue outlook for FY27 remains positive, strengthening fiscal stability and supporting developmental priorities.