Ministry likely to revise budget target of direct tax collection
February, 10th 2009
In the wake of severe financial conditions it is expected that the budget targets of direct tax collection may be revised by the ministry, and consequently there might be slight revision in target collection for Gujarat, Chief Commissioner of Income Tax Gujarat Region J D Sahay said here on Monday.
"However, no decision has been taken yet in this regard, so we continue to pursue the original targets," Sahay said while addressing a gathering of tax consultants during the open house session held at GCCI. The All India target of direct tax collection for 2008-09 was fixed at Rs 3.95 lakh crores, and the budget target collection for Gujarat this fiscal was fixed at Rs 14,545.23 crore.
"I-T Gujarat region has collected Rs 9,203 crores upto the end of January (out of the allocated target of Rs 14,545.23 crores) this fiscal, as compared to collection of Rs 7902.2 crores in the corresponding period a year ago," Sahay said.
"The tax collection in Gujarat shows a growth of 16.5 per cent this fiscal against the all India growth rate of 12.10 per cent," she added.