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News Misc. - Direct Tax

  • Dec 12, 2017
  • Direct tax target raised to Rs.10L cr

    Even as the Central Board of Direct Taxes (CBDT) finds it difficult to achieve the Budget Estimates (BE) of direct taxes at Rs.9.8 lakh crore for FY18, its target was revised upwards by Rs.20,000 crore to Rs.10 lakh crore.Sources in the apex body say the government was expecting a shortfall in indirect tax collections after the implementation of goods and services tax (GST).In an internal meeting held last week, the CBDT asked income-tax (I-T) departments of Mumbai and Delhi to contribute an additional Rs.10,000 crore each to bridge the gap, said a senior I-T official privy to the development. An internal circular of the revised target is expected to be sent out by CBDT shortly.

    Source - https://www.pressreader.com