IT Chief Commissioners discuss strategies for achieving revenue collection target
The Central Board of Direct Taxes (CBDT) convened a meeting of all cadre-Controlling
Chief Commissioners of Income Tax here today to discuss strategies for achieving
the revenue collection target budgeted at Rs.3,70,000 crore (Rs.3.7 trillion) and
internally reset at Rs.4,00,000 crore (Rs.4 trillion). The meeting was addressed
by the Member (Revenue) and the Chairman, CBDT. The Revenue Secretary also attended
The strategies discussed during the meeting include (i) monitoring advance tax payments of top companies and persuading them not to defer such payment as self-assessment tax for the next fiscal; (ii) monitoring tax payments of loss-making companies, liable to MAT at enhanced rate of 15%, and persuading them to make such payment as advance tax during the current fiscal; (iii) monitoring TDS deposits by private deductors as well as state governments / local bodies; and (iv) focussing on collection out of tax arrears, as well as tax demand raised in scrutiny assessments during the current fiscal.