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Direct Tax Collections Increase 16.4% in FY2026-27; Corporate and Non-Corporate Tax Receipts Rise
Direct Tax Collection: Direct tax collection for the current fiscal year has risen by more than 16% to exceed ₹6.51 lakh crore as of July 13. Strong growth was recorded in both corporate and non-corporate tax collections.
According to the government, there has been a significant increase in direct tax collections for this financial year. Till date, the total collection stands at an increase of 16.40% to over ₹6.51 lakh crore. This has mainly happened due to the increase in corporate tax, as revealed by the data that was released on Tuesday.
The net corporate tax has registered an increase of 22% to reach ₹2.40 lakh crore. There has also been an increase in the collection of net non-corporate tax (NCT). NCT consists of taxes paid by individuals, Hindu Undivided Families (HUFs) and firms. The collection of NCT stood at an increase of around 12% to reach more than ₹3.84 lakh crore. The refunds issued during the period amounted to ₹1.22 lakh crore. This is an increase of 14.57% compared to the corresponding period last year. Gross direct tax collection has witnessed an increase of 16.11% to over ₹7.73 lakh crore, out of which corporate tax contribution amounted to ₹3.35 lakh crore and NCT amounted to ₹4.12 lakh crore.
There has been a significant increase in the collection of corporate tax, with net corporate tax registering an increase of 22%. This growth has been instrumental in driving up total direct tax collection, a trend made possible by the improved performance of companies. Consequently, the government's revenue position has strengthened.
