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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

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“And if this trend continues in the second installment, we do expect a fairly good tax collection over and above the targets laid down in the budget,” he said, and added that direct tax collections till August 30 in FY22 were Rs 3.6 trillion.

Arup Roychoudhury New Delhi

4 min read Last Updated : Sep 02 2022 | 8:20 PM IST

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

Topics : Direct Tax Central Board of Direct Taxes direct tax collections corporate earnings GST collection Tax collections CBDT chairman CBDT STT collections