Govt Unlikely To Meet Direct Tax Collection Target: Reports

The Indian Government has said that it is unlikely to meet the direct tax collection target for the third year running, media reported.

As per reports, the target for 2015-16 direct tax collection is Rs 797,995 crore. The collection until September 21 was Rs 286,766 crore.

Govt Unlikely To Meet Direct Tax Collection Target: Reports
Commenting on the issue, JCA President Ajay Goyal said, "The Government had agreed to an overhaul of the department and the Cabinet had approved a proposal to raise the workforce by 20,751 in May 2013. That has not happened yet."

"Officials had stopped work on expanding the tax base for the past two weeks and deadlines for scrutiny assessments remain unmet," he added.

As per reports, the collections have consistently fallen short of targets for three years. In 2014-15 the original target of Rs 7.98 lakh crore was initially revised down to Rs 7.36 lakh crore and then to Rs 7.05 lakh crore. It could, however, only collect Rs 6.96 lakh crore.

Read more about: tax
Story first published: Thursday, September 24, 2015, 12:20 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?