Widening of tax base: E-commerce business on Income Tax radar
May, 27th 2015
The Central Board of Direct Taxes (CBDT) will make every effort to achieve the personal income tax collection target for the current fiscal, its Chairperson Anita Kapur said.
Kapur said CBDT’s intervention will not be limited to technology alone in locating the missing taxpayers. “We will also rely on local information,” she said, adding that CBDT has no immediate plans to abandon “search and seizure” as a tool for tax administration.
The income tax department has been given a “challenging target” on personal income tax collections, representing a 23.03 per cent increase over the actual collections in 2014-15, Kapur said, at the annual conference of Chief Commissioners’ and Directors General of Income Tax here on Monday.
The share of personal income tax in the overall income tax kitty has been on the rise and touched level of 38.9 per cent last fiscal, much higher than 32.9 per cent in the last year.
Kapur said every grievance of taxpayers will get the due attention and be redressed. “We want our taxpayers to be smiling. For us, every tear matters. Even if we have one unhappy taxpayer, we have not reached where we want to be,” she said, adding that the department was committed to providing a “fair, transparent, consistent, responsive and supportive tax regime”.
While the income tax department was “doing ok” on the advance tax front, the trend could have been better on the tax deduction at source (TDS) collection front, the CBDT Chief said, adding that 2014-15 was a “freak year” for TDS and expressed hope that it would again be on track.
On corporate tax collections, Kapur said the target specified for the current fiscal was achievable.
In 2014-15, total direct tax collections stood at 98.69 per cent of the revised estimate. Actual collections fell short of the revised estimate by ?9,000 crore.