Govt hopes tax collections will meet target

Govt hopes tax collections will meet target

With only nine days left for the financial year to end, the government is yet to collect Rs 45800 crore to meet its direct tax target of Rs 6.38 lakh crore in 2013-14. The Central Board of Direct taxes is however confident of collecting all tax due in the remaining nine days and meeting the target, Chairman R K Tewari said here.

“We are hopeful of achieving revised direct tax collection target of Rs 6.38 lakh crore for 2013-14. We have, as on March 22, collected Rs 5.82 lakh crore, which is 13.6 per cent higher than the last year's collection in the corresponding period,” Tewari told reporters here. The overall advance tax collection as on March 22 grew by 8.7 per cent to Rs 2,90,323 crore. Advance tax collection in the corresponding period last year had stood at Rs 2,66,192 crore.Corporate advance tax collection as on March 22 grew  10.8 per cent in 2013-14 to Rs 2,44,396 crore. Personal advance tax grew by 11.2 per cent to Rs 45,927 crore.

Tewari said 2.56 crore online Income Tax returns were filed (till March 22) in the current fiscal year, 40 per cent higher than in the last fiscal.

“Our electronic I-T filing is well received by the public. Even persons who are not mandatory required to file online ITR, are filing their returns online,” Tewari said. The government is keeping a close vigil on the use of black money in the election process and poll affidavits of top two vote gaining candidates will be scrutinised by CBDT for their tax statements and liabilities, he  said.

The chief of income tax department's investigation wing K V Chowdary said the department would deploy diligent mechanism to scrutinise affidavits of candidates. “It is not possible to assess each and every affidavit by the I-T department...However, we have devised an agreed procedure with the EC that we will priortise those cases which are referred to us by the poll body or we may take up affidavits of the top two candidates in a seat post the results,” he said.