Direct tax collection bound to miss projected target.

The Central Board of Direct Taxation (CBDT) frames policy for the I-T department and is also the controlling authority that functions from the North Block in the Finance Ministry.

With the financial year closing less than a week, Central Board of Direct Taxation (CBDT) has rung an alarm and instructed the Income Tax Department to go for the kill as the direct tax collection target falls short of the target by about 15%.

On 26^th March 2019, CBDT member Mrs. Neena Kumar wrote a letter to all regional chiefs of the department stating that the tax collection figures have been reviewed and it was noted that only 10,21,251 Crore of the projected 12,00,000 Crore has been collected as on March 23. This is 85.1% of the target.

The minor head wise analysis depicted a negative growth trend in regular collections at -6.9% as against -5.2% last week. This needs an immediate attention.

The officer expressed their disappointment and asked the supervisory tax officials to do all the needful to ensure that the target is met especially with respect to the recovery of arrears and current demands.

Board Chairman P C Mody and Mrs. Neena Kumar are addressing all the issues first hand and are monitoring advance tax and arrear collections, enforcement action to check tax evasion and subsequent surrender of undisclosed income.

Learn how the Govt. has planned to check tax evasion starting April 1, 2019.