New Delhi, Nov 28 (IANS) India’s Income Tax department expect to meet the direct tax collection targets for the current financial year, a senior official said on Monday.
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra, who took charge earlier this month, told reporters here that, based on the collections of the April-October period, the department “expects to meet the target” in the remaining months of the fiscal.
“We are moving at 11.3 per cent net growth and collections till now have been good,” he said.
The CBDT has said that till October 2016, 44.5 per cent of the budget estimates of direct taxes for 2016-17 had been achieved.
A total of Rs 3.77 lakh crore has been collected in direct taxes during the April-October period of 2016-17.
Direct tax collection is estimated to grow by 12.64 per cent to Rs 8,47,097 crore in the current fiscal, from Rs 7,52,021 crore in 2015-16.