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Will collect more taxes in FY26: FinMin official
The Morning Standard
|February 03, 2025
The government is confident of achieving the income tax collection target for FY26 despite massive tax cuts offered in the Budget 2025-26—a move that will result in a revenue loss of ₹1 lakh crore
As per the Budget estimate, personal income tax collections could be ₹14.38 lakh crore in FY26, a 14.4% increase over the revised estimate of ₹12.57 lakh crore for FY25. The FY25 budget estimate for tax collection was ₹11.87 lakh crore.
The FY26 tax collection target is achievable, says a top finance ministry official, adding: "Our estimate for income tax collection in FY26 is conservative."
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