New Delhi, Oct. 26 -- The Centre's personal income tax revenue collection averaged 25% in the last four financial years. The robust growth prompted the government to offer tax relief to individuals in this year's Budget, sacrificing some of the revenue buoyancy.

Halfway through the current financial year, income tax collection from individuals has grown faster than corporate tax revenue collection, although its pace has moderated and its share in overall direct taxes has stabilised. Mint takes a look at its implications for the government's budget calculations for the current financial year.

Businesses contributed a larger share of direct tax revenue in FY20 at 53%. After a drop in the pandemic year of FY21, it still accounted for a lit...