I-T target hits on record tax refund hurdle

Cash to replace food for 140 mn kids

Business Standard

Direct tax collection likely to fall short of Rs 8.47 lakh crore Budget target

Record tax refunds by the income tax (it) section up to now this financial year (2016 17) to businesses and people has adversely affected the direct tax collection amounts. With the year ending the collection amounts suggest the finance ministry is not likely to fulfill its challenging collection goal, according to two I-T section officials. According to tax section data, complete direct tax collection in the conclusion of February was Rs 6.13 lakh crore, or 72.4 per cent of the complete year’s goal of Rs 8.47 lakh crore. In 201516, the section …

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I-T goal hits on record tax refund hurdle
Direct tax collection likely to fall short of Rs 8.47 lakh crore Budget goal
Direct tax collection likely to fall short of Rs 8.47 lakh crore Budget goal Record tax refunds by the income tax (it) section so far this financial year (2016 17) to businesses and people has adversely affected the direct tax collection amounts. With the year ending the collection amounts suggest the finance ministry is not likely to fulfill its challenging collection goal, according to two I-T section officials. According to tax section data, complete direct tax collection in the conclusion of February was Rs 6.13 lakh crore, or 72.4 per cent of the complete year’s goal of Rs 8.47 lakh crore. In 201516, the section … image

Shrimi Choudhary

Business Standard

http://bsmedia.business-standard.com/_media/bs/wap/images/bs_logo_amp.png 177 22

Direct tax collection likely to fall short of Rs 8.47 lakh crore Budget target

Record tax refunds by the income tax (it) section up to now this financial year (2016 17) to businesses and people has adversely affected the direct tax collection amounts. With the year ending the collection amounts suggest the finance ministry is not likely to fulfill its challenging collection goal, according to two I-T section officials. According to tax section data, complete direct tax collection in the conclusion of February was Rs 6.13 lakh crore, or 72.4 per cent of the complete year’s goal of Rs 8.47 lakh crore. In 201516, the section …

image

Shrimi Choudhary

Business Standard

http://bsmedia.business-standard.com/_media/bs/wap/images/bs_logo_amp.png 177 22

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