India's net direct tax collections rise 9.4% to ₹19.43 tn

The central government's net direct tax collections, after accounting for refunds, stood at ₹19.43 trillion so far this fiscal year, up 9.4% from a year earlier.

- Rituraj Baruah

The direct tax revenue will rise by 8.96% annually.

(ISTOCKPHOTO)

Data released by the Central Board of Direct Taxes (CBDT) on Wednesday showed that tax receipts from corporations and individuals between 1 April and 10 February were over 80% of the revised direct tax target of ₹24.21 trillion for FY26. The initial target was ₹25.2 trillion.

In the revised estimates for FY26, the government lowered its direct tax target by ₹99,000 crore to account for the impact of tax rate cuts introduced this financial year to boost consumption.