sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Direct Tax »
  New direct tax code may have to wait until 2019
 Direct tax collection grows fastest in 7 years in FY18, courtesy GST; here’s how indirect tax reform helps
 Income Tax: Deadline for filing belated ITR of Assessment Year 17-18 is over
 Income Tax department cautions TDS deductors, says file statements by May 31 or pay penalty
 ITR-4 launched on e-filing portal; total 3 ITRs available now
 CBDT directs income tax department to hold grievance redressal fortnight for taxpayers in June
 Income tax return form-2 in Java format released for e-filing for FY2017-18
 3 ITRs available now ITR-4 launched on e-filing portal
 Businesses, small taxpayers to gain from new direct tax code
 New direct tax code to benefit corporates, income tax payers
 CBDT releases ITR Form-4 for presumptive income from business and profession

Scope for expansion of tax base
June, 18th 2016

A day after Prime Minister Narendra Modi spoke about near-doubling of taxpayer base to 10 crore, Revenue Secretary Hasmukh Adhia today sought to contextualise the statement saying he was talking about "scope for expansion" and getting to that mark is "impossible".

The Central Board of Direct Taxes (CBDT), however, said in a statement that the Prime Minister had "asked them to knock on the doors of the non-tax payers so as to increase the number of taxpayers to at least 10 crore".

Addressing the inaugural session of the two-day annual conference of tax administrators yesterday, the Prime Minister had asked taxmen to legitimately aspire to have 10 crore taxpayers within tax bases as against 5.43 crore tax payers currently.

The conference was closed to media and Modi's remarks were relayed by Minister of State for Finance Jayant Sinha and Adhia yesterday.

At the end of the conference today, Adhia briefed the reporters, where he referred to Sinha having said that the Prime Minister in his address had stated that out of about 25 crore households in the country, there may be 14-15 crore agriculture households.

Stating that this left 10 crore households, Adhia said, "Now, there is a scope for expansion, widening of tax net out of that 10 crore. He (Prime Minister) did not say that we should actually get 10 crore."

"It is impossible to get 10 crore of taxpayers in this country because many of the non-agriculture households may also be below poverty line staying in urban areas. So, it is not possible to tax all the 10 crore people," he said.

Modi, Adhia said, indicated about widening of the tax net. "There is no specific target or anything," Adhia added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions