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Corp tax mop-up rises, individual collections drop
The New Indian Express
|September 20, 2025
Higher income tax exemption threshold brings down personal advance tax collections
ADVANCE personal income tax collections for FY26 fell 7.3% to ₹96,784 crore as of September 17, compared to ₹1,04,411 crore in the same period last fiscal.
The decline is attributed to the higher income tax exemption threshold raised from ₹7 lakh to ₹12 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.
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