Industry Odisha Bureau, Jul 15: Propping up the country’s fiscal position, the first net direct tax collections by the Government of India (GoI) have reportedly grown 16.1 per cent in the first three-and-a-half months of the ongoing fiscal year 2026-27 (FY27).
Reports claimed that, the amount of net direct tax collections “between April 1 and July 13 this year stands at Rs 6.51 trillion with 16.1% year-on-year (YoY) growth registered in comparison with Rs 5.59 trillion collected during the same period last year.”
Basing on the data reportedly availed from the Income Tax (IT) Department, media reports stated that, “The gross direct tax collections this fiscal year amounts to Rs 7.74 trillion, while the amount was Rs 6.66 trillion in the last fiscal year.”
Basing on the data reportedly availed from the Income Tax (IT) Department, media reports added that, “The tax refunds issued during the same period stood at Rs 1.22 trillion with 14.57% growth in refunds. Net collections stood at Rs 6.51 trillion after accounting for the refunds.”
Basing on the data reportedly availed from the Income Tax (IT) Department, media reports further stated that, “Gross corporate taxes amounting Rs 3.35 trillion in the current fiscal up from Rs 2.90 trillion in the last fiscal lead the growth, while gross non-corporate tax paid by individuals, HUFs, firms and other non-corporate entities stand at Rs 4.12 trillion this fiscal that is up from Rs 3.58 trillion in the last fiscal.”
