India's direct tax collections rise 16.4% to 6.51L/cr mid July
Business
India's direct tax collections are up 16.4% this year, hitting ₹6.51 lakh crore by mid-July.
The boost mainly comes from strong corporate taxes, showing steady growth even as the government handed out more refunds than last year.
Corporate taxes up 22% to 2.40L/cr
Corporate taxes grew sharply, up 22% to ₹2.40 lakh crore, while individual and other non-corporate taxes rose nearly 12%, reaching more than ₹3.84 lakh crore.
The government issued ₹1.22 lakh crore in refunds (a 14.57% increase).
Looking ahead, the target for FY27 is set at ₹26.97 lakh crore, aiming for another solid jump over last year's numbers.