India’s net direct tax collections for the April 1-June 17 period of fiscal year 2027 surged by 14.64% year-on-year to reach Rs 5.21 lakh crore, as per the Income Tax Department data. This marks a significant increase from the Rs 4.5 trillion collected during the same period in the previous fiscal year.
Moreover, gross direct tax collections also saw a notable rise, increasing by 12.46% to Rs 6.1 lakh crore from Rs 5.4 lakh crore in the year-ago period. The data further revealed that refunds issued during this period amounted to Rs 89,025.71 crore, showing a 1.19% increase from the previous year.
In addition, total advance tax collections during this period exhibited double-digit growth. Advance tax collections stood at Rs 1.78 lakh crore, reflecting a 15.30% increase from the corresponding period in the previous fiscal year.
Advance corporate tax collections saw a rise of 16.01% to Rs 1.40 lakh crore, while advance non-corporate tax collections increased by 12.73% to Rs 37,620.32 crore. Corporate tax collections, on a net basis, climbed to Rs 2.08 lakh crore from Rs 1.7 lakh crore in the previous year.
