Net direct tax collections rose 13 percent to over Rs 12.12 lakh crore through September 17 in the current fiscal year, according to data released by the Central Board of Direct Taxes (CBDT) on Friday.
Advance tax payments increased 16.18 percent to about Rs 5.22 lakh crore. Corporate advance tax grew 18 percent to over Rs 4.16 lakh crore, while non‑corporate advance tax rose 9.24 percent to Rs 1.06 lakh crore.
Refund issuance surged 29.19 percent to more than Rs 2.20 lakh crore, and gross direct tax collection expanded 15 percent to over Rs 14.32 lakh crore.
After adjusting for refunds, net direct tax collections—encompassing corporate, non‑corporate, and securities transaction tax—registered a 12.96 percent increase to above Rs 12.12 lakh crore. Net corporate tax mop‑up climbed 19.48 percent to roughly Rs 5.56 lakh crore, non‑corporate tax rose 6 percent to over Rs 6.16 lakh crore, and securities transaction tax collection grew 53 percent to Rs 40,214 crore.
EY India’s tax partner Jayesh Sanghvi noted that tax buoyancy is now broad‑based, with non‑corporate tax accounting for 48.7 percent of the gross pie versus corporate tax’s 48.5 percent. He added that the FY27 budget assumes a 10 percent nominal GDP growth, and the current gross and net direct tax buoyancy rates of 1.47 and 1.26 respectively represent a meaningful reversal from FY2025‑26. Grant Thornton Bharat’s tax partner Richa Sawhney highlighted that steady advance tax growth signals taxpayer confidence, strong business performance, and expectations of sustained income growth.
