Overview
- Official data show net direct tax collections reached Rs 6.51 lakh crore as of July 13, up 16.4% year-on-year, while gross collections rose about 16.11% to roughly Rs 7.73–7.74 lakh crore.
- Net corporate tax receipts climbed about 22% to roughly Rs 2.40 lakh crore, reflecting resilient corporate profits and higher advance-tax payments by companies.
- Net non-corporate tax collections increased around 11–12% to about Rs 3.84–3.85 lakh crore, but refunds for non-corporate taxpayers nearly doubled and overall refunds rose about 14.6%, which trimmed reported net growth.
- Securities Transaction Tax surged to about Rs 26,429 crore, a rise near 48%, signalling elevated equity trading volumes that boosted tax receipts from market activity.
- Analysts say the early-FY27 pattern keeps the government on course for the Budget's Rs 26.97 lakh crore direct-tax target but warn that monthly refund flows and advance-tax cycles will determine cashflow and the strength of future collections.