Net Direct Tax Collections Rise 13.21% To Rs 13.38 Lakh Crore In FY27

Gross direct tax collections increased to Rs 16,03,066.12 crore from Rs 13,95,278.39 crore a year earlier. (File Photo)

India’s net direct tax revenue crossed Rs 13.38 lakh crore by October 14 in the financial year 2026-27, registering a 13.21 per cent increase over the corresponding period last year, according to the latest figures released by the Income Tax Department. The rise came alongside stronger gross collections, although a sharp increase in tax refunds moderated the growth in net receipts.

Net direct tax collections amounted to Rs 13,37,866.98 crore as of October 14, compared with Rs 11,81,786.98 crore recorded during the same period in FY2025-26. Gross collections grew at a faster rate of 14.89 per cent, showing an increase in tax receipts before refunds were deducted.

Gross direct tax collections climbed to Rs 16,03,066.12 crore from Rs 13,95,278.39 crore in the year-ago period. However, total refunds also increased substantially, rising 24.22 per cent to Rs 2,65,199.14 crore from Rs 2,13,491.41 crore.

The faster pace of refunds partly offset the gains in gross revenue, resulting in a more moderate increase in net collections. The figures offer an indication of the government's direct tax receipts during the first half of the current financial…

Original source: https://www.timesnownews.com/business-economy