Govt initiates steps to meet tax collection targets

Govt initiates steps to meet tax collection targets


New Delhi: Government has taken various steps including close monitoring of advance tax payments of top tax-payers and collection of arrears from defaulters to meet the targets of direct and indirect taxes during the year.

In case of direct taxes (corporate and personal income tax), the government had estimated receipt of Rs3,65,000 crore during 2008-09 and net collection till November this year stood at Rs1,77,251 crore.

In a written reply in Lok Sabha, Minister of State for Finance S S Palanimanickam said the government has initiated many steps to facilitate achievement of the collection targets during the remaining period of the current fiscal.

Government is also planning to strengthen the tax deduction at source/tax collection at source set-up by creating 13 Commissioner-level posts and conducting effective surveys to unearth non-payment of TDS/TCS on direct tax slide.

Of the indirect tax collection estimates of Rs3,20,000 crore (customs duties, central excise duty and service tax), the government has collected Rs1,62,535 crore during April-October, according to provisional figures.

Government is emphasising on voluntary tax-compliance through better taxpayers’ service and multi-media campaign to encourage voluntary compliance of tax laws.

Palanimanickam said the government was developing a scientific system of scrutiny of returns filed by tax payers to detect any short payment of tax or duty.