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 Central Board of Direct Taxes meets to review tax collection

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PostSubject: Central Board of Direct Taxes meets to review tax collection   Wed 11 Mar 2015, 5:22 am

NEW DELHI: Central Board of Direct Taxes (CBDT) will hold a meeting with Income Tax department (ITD) to review tax collection work.
Officials said the meeting, via video conferencing link, will be chaired by CBDT Chairperson, Anita Kapur, along with other Board members to review and identify challenges that the I-T department is facing in this regard.
“All the Principal Chief Commissioners, Commissioners and officials responsible for tax collection work will be a part of the meeting. With about 20 days remaining for the end of this financial year, this is an important meeting,” a senior Finance Ministry official said.
According to latest data, collection from direct taxes rose by 10.67 per cent to Rs 6.12 lakh crore in the first 11 months of the current financial year in line with the revised Budget projections.
As per the Budget for 2014-15, the revenue mop up from direct taxes was targeted at Rs 7.36 lakh crore. It was, however, revised downwards to 7.05 lakh crore as per the revised estimate in the Budget for 2015-16.
The CBDT is specifically concerned about the low growth of collections this time under the Tax Deducted at Source (TDS) category and this would be surely be discussed during tomorrow’s meeting, the official said.
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