I-T Dept confident of meeting 19% growth in direct tax mop-up
May, 29th 2013
The I-T Department today exuded confidence that it can mop up Rs 6.68 lakhcrore in direct taxes this financial year to register over 19 per cent growth compared to Rs 5.59 lakhcrore in 2012-13.
"The Budget estimate of 2013-14 is daunting compared to last year. We are expected to grow at the rate exceeding 19 per cent," Central Board of Direct Taxes ( CBDT) Chairperson Poonam Kishore Saxena said at 29th Annual Conference of Chief Commissioners and Directors General of Income Tax here.
"We have restructured the department. The new team fortified with the re-energised workforce shall deliver and come up to the expectations," she said.
The two-day conference was inaugurated by Finance Minister P Chidambaram today.
Last week, the Union Cabinet had approved a proposal to restructure the Income Tax Department and add 20,751 posts, with an eye on improving its tax collection efforts and boost revenue by at least Rs 25,000 crore a year.
"The new structure will enable the department to fulfil their responsibilities with greater efficiency. The senior level posts are being entrusted with greater responsibilities and will stand upgraded," he said.
Stating that 2012-13 was a difficult year, she said: "The adverse fiscal matrix, the challenging target and limitations of resources had made the road difficult."
However, with clear guidance from the Finance Minister, she said, "this Department last year worked in the backdrop of his policy objective enunciated in the statement of August 6, 2012, that is clarity in tax laws, stable tax regime, non-adversarial tax administration and fair mechanism for dispute resolution."
"The results have largely been fair and reasonable with us having nearly touched figure of Rs 5.59 lakh crore," she said.
The Department has grown with the nation and it is today the largest contributor to revenues of the central government, she added.