Centre expects to exceed gross direct tax collection target for FY25

Actual tax liability declined by 40% for those earning between Rs 10-20 lakh

Ahead of the presentation of the FY26 Budget in February, government sources said they not only expect to meet the Rs 22 trillion gross direct tax collection target for FY25, but also exceed it given the robust trend so far.

 

“Gross collections have not come down. It is because of higher refunds that net collections have slowed down. The way the economy is doing and the way the collections are growing, we are hopeful that we will not only meet the target but also exceed it,” the source said.

 

Data released by the finance ministry up to 10 November of