Direct Tax collection sixty eight% Of target until February thirteen – My Blog

total collection from direct taxes stood at Rs. five.forty seven lakh crore as on February thirteen, that is 68.7 per cent of the budget goal for the monetary. “internet (direct tax) series turned into Rs. 5.47 lakh crore as on February 13, 2016. This quantity is 68.7 in keeping with cent of the goal of Rs. 7.ninety six lakh crore,” valuable Board of Direct Taxes (CBDT) member Surabhi Sinha has said.

Direct taxes encompass private income tax and company taxes. The government anticipates a shortfall of about Rs. forty,000 crore from direct tax series inside the modern-day fiscal. however, the shortfall could be made suitable as the indirect tax sales are probable to overshoot price range targets through a comparable margin.

Of the Rs. 14.5 lakh crore tax revenue target, Rs. 7.96 lakh crore become predicted to come back from direct taxes (corporate and earnings tax) and some other Rs. 6.5 lakh crore from indirect taxes (customs, excise and carrier tax).