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News Misc. - Direct Tax

  • Feb 05, 2019
  • Worry lines for Modi govt: Direct tax collection could fall short by Rs 65,000 crore

    While the Interim Budget estimate of 13.5% growth in gross tax revenue for FY20 — this is to come on a robust base of 17.2% growth in FY19 (revised estimate or RE) — appears a bit too optimistic, the collection this year could turn out to be Rs 65,000 crore or 5.45% less than the RE, on account of the possible shortfalls in direct taxes alone. If the historical mop-up trend serves any guidance, some 65% of the annual direct taxes get collected in the first nine months of a fiscal year and the balance in the fourth quarter.