Govt may miss FY26 income tax collection target by big margin

THE government is likely to miss its ambitious income tax collection target of 15% for FY26 by a big margin.

- DIPAK MONDAL @New Delhi

Despite the 2025 Union Budget announcing a major relief to individual taxpayers, the government had set a steep target of 15% growth in income tax collection in FY26.However, going by the net income tax collections till December 17, the government might miss the target by a big margin. Net income tax collection in FY26 till December 17 rose by 6.4% to %8.47 lakh crore against 7.96 lakh crore even as the total net direct tax colle