Government recovers Rs 18,000 crore tax
The government’s direct tax collection of Rs 3,12,000 crore as of March 17 includes Rs 18,000 crore recovered by taxmen from regular taxpayers and corporate assesses who were trying to understate their liabilities.
The taxmen raised demands for recovery of these taxes as IT authorities are racing against time to meet the truncated target of Rs 3,45,000 crore by March 31.
“Rs 18,000 crore have been recovered post assessment from the demands raised by the department from the taxpayers till March 17,” Member CBDT (Revenue) Saroj Bala told reporters.
Of the total recovery made, Rs 13,000 crore was collected from regular tax payers while Rs 5,000 crore was collected from corporate assessees, she said.
While the direct tax collection at Rs 3,12,800 crore is a growth 18.8 per cent from Rs 3,12,202 crore in the same period last fiscal, the tax authorities are mopping up the recoveries to meet the set targets.
Source: The Economic Times