Direct tax mop-up 95% of revised estimate

The Centre has collected ₹21.26 trillion in net direct taxes so far this fiscal year, reaching 95% of the revised full-year target, the Income Tax Department said Monday after the final advance tax instalment deadline.

- Gireesh Chandra Prasad

Tax revenue, spanning corporate income tax, individual income tax, and securities transaction tax (STT), grew 13.1% year-on-year, outpacing 9.9% nominal GDP growth—a sign of strong tax buoyancy and expanding compliance.