News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Direct Tax »
 CBDT says income tax shortfall 'non-neogtiable', instructs top brass to pull up their socks to meet FY20 target
 Are you really saving your taxes? Know your Tax slabs & review your investment plans now!
 Notification No.05/2020 Central Board Of Indirect Taxes And Customs
 Notification No.05/2020 Central Board Of Indirect Taxes And Customs
 Should you invest in NPS just to get additional tax benefit?a
 CBDT relaxes eligibility conditions for filing of ITR Form-1 Sahaj and Form-4 Sugam
 CBDT extends till January 31 deadline for compounding of I-T offences
 CBDT lifts bar on some tax payers to file tax return in forms Sahaj, Sugam
 Simple ITR-1 income tax return form not for those paying ?1 lakh in electricity bill, owning house jointly
 CBDT notifies ITR-1 and ITR-4 for the AY 2020-21
 Notification No.01/2020 Central Board Of Indirect Taxes And Customs

CBDT lays out revised region-wise direct tax collection target
August, 07th 2019

The Central Board of Direct Taxes (CBDT) on August 5 laid out the target for achieving the government's revised direct tax collection of Rs 13.35 lakh crore.

The Central Board of Direct Taxes (CBDT) on August 5 laid out the target for achieving the government's revised direct tax collection of Rs 13.35 lakh crore.

In a letter to all principal commissioners, the CBDT laid out targets for each of its regions, with the Mumbai region expected to contribute Rs 4.29 lakh crore, the highest, followed by Delhi at nearly Rs 1.93 lakh crore.

Mumbai is also expected to contribute all of the Rs 12,800 crore expected via securities transaction tax.

The Interim Budget, presented in February 2019, laid out a direct tax collection target of Rs 13.8 lakh crore, which was lowered to Rs 13.35 lakh crore in the final Budget presented in July.

The revised figure represents a tax growth target of 17.41 percent -- which CBDT Chairman Pramod Chandra Mody dubbed as difficult but achievable -- lower than the 21.3 percent targetted by the February 2019.

During the last fiscal, the tax department had a target of Rs 12 lakh crore.

"Tax collection depends on the state of the economy," a senior tax official told Moneycontrol. "If the economy is booming, tax collections rise. However, economic conditions are adverse."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting