Direct tax collections may exceed budget targets, CBDT chief says

Gupta added that if the trend continues, direct tax collections for FY23 could exceed the budget target of Rs 14.20 trillion

The Centre’s direct tax collection as on August 30 stood at Rs 4.8 trillion, which is 33 per cent more than the Rs 3.6 trillion collected in the same period last year, Nitin Gupta, chairman of the Central Board of Direct Taxes (CBDT), told Business Standard.

Gupta said if the trend continued, direct tax collection for FY23 could exceed the Budget target of Rs 14.20 trillion.

“We have a healthy net collection after accounting for a higher refund outgo. There is a good buoyancy of tax collection so far,” Gupta said. “If this trend continues in the second instalment, we expect