Hopeful Of Achieving Direct Tax Collection Target Of FY14:CBDT

NEW DELHI: Pinning hopes on last minute rush of payment of taxes by corporate and individuals, the government is hopeful of achieving revised direct tax collection target of Rs.6.36 lakh crore for this fiscal.

The government has as on March 22 collected Rs.5.82 lakh crore of direct taxes, a CBDT official said, adding, there is still one more week to go before the close of the current financial year.

"We are hopeful of achieving revised direct tax collection target of Rs.6.38 lakh crore for 2013-14. We have, as on March 22, collected Rs.5.82 lakh crore, which is 13.6 per cent higher than the last year's collection in the corresponding period," Central Board of Direct Taxes (CBDT) Chairman R K Tewari told reporters here.

"We are optimistic about the economy an tax collection," he added.

Tewari said they have also taken "certain steps to galvanise the entire department so that in the remaining days of the current fiscal, the department is able to collect Rs.45,800 crore. We will be receiving some taxes by way of advance tax also," he added.

According to official data, as of March 22, the I-T department needs to further achieve a net collection of Rs.45,800 crore before the current fiscal closes this month on March 31.

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