Corp tax mop-up rises, individual collections drop

Higher income tax exemption limit brings down personal advance tax collections

- DIPAK MONDAL @New Delhi

ADVANCE personal income tax collections for FY26 fell 7.3% to %96,784 crore as of September 17, compared to 21,04,411 crore in the same period last fiscal. The decline is attributed to the higher income tax exemption threshold—raised from 27 lakh to 712 lakh in this year’s Budget—and the revised tax slabs.

In contrast, corporate advance tax collections grew 6.11% to %3,52,129 crore. Consequently, total advance tax collections registered a modest 2.9% growth to %4,48,913 crore.