New Delhi: The net direct tax collections surged 11.76 per cent (year-on-year) to Rs 14.42 lakh crore till November 10 this fiscal (FY27), according to data released by the Income Tax Department on Wednesday.
Net direct tax collections rose to Rs 14.42 lakh crore from Rs 12.90 lakh crore during the corresponding period of the previous financial year.
Gross direct tax collections, which represent tax receipts before adjusting for refunds, increased 14.02 per cent to Rs 17.50 lakh crore, compared to Rs 15.35 lakh crore during the same period last year.
Notably, net corporate tax collections increased to Rs 6.32 lakh crore from Rs 5.36 lakh crore in the corresponding period last year.
Securities Transaction Tax (STT) collections saw an increase of about 51.56 per cent to Rs 54,077.90 crore, compared to Rs 35,681.88 crore in the year-ago period.
Direct tax refunds increased by nearly 26 per cent to Rs 3.08 lakh crore during the current financial year till November 10, compared to the same period last year.
Net non-corporate tax collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs), firms and other entities, increased to Rs 7.56 lakh crore from Rs 7.18 lakh crore.
The direct tax data covers taxes paid by companies as well as individuals, Hindu Undivided Families (HUFs), firms, associations of persons (AoPs), bodies of individuals (BoIs), local authorities and artificial juridical persons.
The government has budgeted to collect Rs 26.97 lakh crore from direct taxes in the current financial year, a 15 per cent growth over Rs 23.40 lakh crore collected in FY26. Of this, Rs 14.42 lakh crore or about 53 per cent of the budget target, has already been achieved as of November 10.
(IANS)
