India’s net direct tax collections rise 13.21% to Rs 13.38 lakh crore as of October 14 in FY27

Citing Income Tax department data, The Economic Times reports that India’s net direct tax collections reached Rs 13.38 lakh crore as of October 14 in FY27, up 13.21% year-on-year. Gross collections rose to Rs 16.03 lakh crore before refunds, while refunds totaled Rs 2.65 lakh crore. Net corporate, non-corporate and Securities Transaction Tax collections also increased.