I-T department seeks a cut of Rs 1 lakh crore in direct tax collection target, says report
Updated : November 11, 2019 12:34 PM IST
Corporate tax collection grew by just 0.5 percent in the first seven months of the fiscal year, whereas the year’s expansion target was of 15.4 percent at Rs 7.66 trillion.
Personal I-T collection grew 5 percent till October compared to this year’s target of over 22 percent.
If the target is not reduced, the department will be required to expand its tax collection by around 30 percent in the remaining few months.