Nitin Gupta, Chairman of the Central Board of Direct Taxes (CBDT), announced that the government is poised to surpass its fiscal target of Rs 18.23 trillion in direct tax collection, given the robust revenue growth witnessed so far.
He highlighted the vigilant monitoring of unexplained cash and jewellery during state and national elections, with coordinated actions taken alongside both union and state election authorities.
Gupta emphasized that the union government’s direct tax collection shows a net growth of 21-22% post-refunds and 17-18% gross. He expressed confidence in the healthy revenue and refund figures, attributing them to the nation’s strong economic growth. Anticipating surpassing the budgeted target, Gupta noted that a clearer trend would emerge after the third advance-tax instalment by December 15.
Further, he said that the utilization of technology by the tax department will enhance tax administration. Over time, the department has improved its ability to gather information on financial transactions, expanded opportunities for Tax Deducted at Source (TDS), and revitalized its information technology systems to increase the efficiency of tax administration. Gupta also highlighted the increasing number of tax return filings, with the department reporting over five million first-time filers this year.
According to the CBDT’s recent statement, the government has collected ₹12.37 trillion in direct taxes (excluding refunds), showing a growth rate of 17.59% compared to the same period last year. This amount accounts for 58% of the full-year target for direct tax collections.
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During election periods, the tax department establishes dedicated units and conducts continuous monitoring of unexplained cash. This surveillance includes all districts and international borders under its radar. The Election Commission and state election authorities coordinate this entire operation, as stated by Gupta.
