1. CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory

CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory

The CBDT has asked income tax officials to pull their socks up to shore up revenue collection, noting that it is at present "not satisfactory".

By: | New Delhi | Published: July 7, 2017 6:43 PM
CBDT, Sushil Chandra, CBDT chief, I-T Department, income tax officals, TDS, direct taxes, advance tax, revenue collection The CBDT chief observed that a review of direct tax collections till June showed that the growth in revenue collection, on several parameters, was “not satisfactory”.

The CBDT has asked income tax officials to pull their socks up to shore up revenue collection, noting that it is at present “not satisfactory”. Central Board of Direct Taxes (CBDT) chairman Sushil Chandra has issued a directive to all his regional chiefs, asking them to take “all measures to increase revenue collection so that the position at the end of September quarter comes in line with the desired growth rate”. Chandra wrote to the Income Tax (I-T) Principal Chief Commissioners that “sustained efforts throughout the year” were required to achieve the target.

The CBDT chief observed that a review of direct tax collections till June showed that the growth in revenue collection, on several parameters, was “not satisfactory”. “The gross collections have increased by only 8.4 per cent and it is only due to lower refunds that the net collections are showing a growth rate of about 15 per cent,” Chandra said and cautioned that once more refunds were issued, the overall growth rate might again register a dip.

Chandra said the growth rate of collection under heads such as advance tax, tax deducted at source (TDS) and others was “significantly lower” than that last year. He said the review conducted by the board found that most I-T regions in the country were “showing very low growth either in terms of gross collections or net collections or both”.

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The chairman directed the department heads to tap various sources to improve the collection and look at “alternative sources” to make up for the deficit. The CBDT, in a statement yesterday, said the net direct tax collection (Rs 1.42 lakh crore) represented 14.5 per cent of the total budget estimates of direct taxes of Rs 9.8 lakh crore for financial year 2017-18. The CBDT is the policy-making body of the I-T Department, which is entrusted with the task of collecting direct taxes under various heads.

  1. K
    Kamal
    Jul 9, 2017 at 4:21 pm
    Needless to say this is the effect of "demonetization". All the hype and hoopla about many people coming into the tax net by the government, the bluff has been called on that by the Income Tax department. The economic experiments of this government will boomerang and soon this government will face the wrath of the people. Draconian and totalitarian harassment everywhere. The Aadhar which was supposed to be voluntary, now is becoming mandatory. What is the need for asking people to link their aadhar with bank account, it is not clear. Aadhar is a biometric identification and it would have been prudent to ask people to link PAN with bank accounts and have compulsory linkage of PAN with Aadhar. Why seed bank accounts with Aadhar ? To increase cyber fraud ? The digital India is becoming digital fraud and a digital nightmare for people. Very soon people will equate PM Modi to Mohammed-bin-Tughlaq whose foolish ideas made people mock him.
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