The Central Board of Direct Taxes (CBDT) board has said that a shortfall in tax collections is not negotiable, despite a cut in the corporate tax rate, according to a report by Moneycontrol.
In a meeting with the Chief Commissioners of all Income Tax branches and other high-level officers, the CBDT board laid out a strategy for improving tax collection and set a target for carrying out tax surveys for the respective regions.
There has been a shortfall of Rs 1.36 lakh crore in tax collection. The CBDT board has said that the shortfall has to be recovered with extra efforts.
"CBDT has laid down strategies for collecting more tax in the next two months. These include identifying those companies that have discrepancies in the payment of Goods and Services Tax and Income Tax and taking 20 per cent of this amount from those companies whose appeals are pending at the Commissioner level. Currently, appeals worth around Rs 3.6 lakh crore are pending at the CIT level, from which 20 per cent of the money will be directed to the tax collection kitty," a person who attended the meeting told the publication.
The tax department is scanning all the filings to check cases of large scale non-deduction or under-deduction of tax at source, and non-deposit of tax already deducted.
The CBDT board mentioned that there are more than 40,000 pending cases for recovery, which amount to more than Rs 5 lakh crore.
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