India’s Net Direct Tax Collections Rise 11.8% to ₹14.42 Lakh Crore in FY27 So Far
India’s net direct tax collections increased 11.76% year-on-year to ₹14.42 lakh crore as of November 10 in FY27, according to data released by the Income Tax Department on Wednesday. The collections stood at ₹12.90 lakh crore during the corresponding period of the previous financial year. The latest figures indicate that the government has achieved around 53% of its FY27 direct tax collection target of ₹26.97 lakh crore. Gross direct tax collections, before adjusting for refunds, rose 14.02% to ₹17.50 lakh crore, compared with ₹15.35 lakh crore in the year-ago period.
Corporate Tax and STT Collections Increase
Net corporate tax collections climbed to ₹6.32 lakh crore, against ₹5.36 lakh crore in the corresponding period last year. Securities Transaction Tax (STT) collections recorded a sharp increase of **51.56% to ₹54,077.
