• The Central Board of Direct Taxes (CBDT) has rung alarm bells and has asked the Income Tax Department to go for a major assault as the direct tax collection target remains short of about 15%, with the financial year closing less than a week away.
  • The officer, who is responsible to supervise I-T department’s tax collection work across the country, underlined the areas that are sluggish vis-a-vis direct tax collections obtained from personal, corporate and advance tax categories.
  • The minor head-wise analysis indicates worsening trend of negative growth in regular collections at -6.9% as against -5.2% in the last week.
  • The CBDT frames policy for the I-T department and is also its controlling authority that functions from the North Block in the Finance Ministry.
  • You are aware that regular assessment tax is bench-mark of performance as it is based upon quality of demand raised which can further be converted into actual collections,”
  • The CBDT has been worried over the direct tax collection work for quite some time and Board Chairman P.C. Mody had recently held a video-conference with the top brass of the department across the country and discussed strategies to boost the collection figures to be achieved by the end of the 2018-19 fiscal on March 31.
  • They are monitoring advance tax and arrears collections, enforcement action to check tax evasion and subsequent surrender of undisclosed income.