MORE INCOME TAX PAYERS, BUT WILL COLLECTIONS EXCEED TARGETS ?

Aug 9th, 2017 | By | Category: Government

THE NEWSMAN OF INDIA.COM
The govt on Tuesday revealed the data of highest ever Income Tax returns filed by individuals stating that the increase was of 24.7%. The statistics could be read in a fine way to understand that it is very well to increase the number of tax payers but what it has not revealed is the amount of money it has collected from this increase. Has the govt really earned enough money with an increase of 24.7% in tax collections? The govt for the year 2017-18 has set a target of Rs 9.8 lakh cr of income tax a hike of 15% over Rs 8.5 lakh crore collection in 2016-17. Last year the govt met its target of Rs 8.5 lac cr with lesser amount of tax payers. But this year what needs to be seen is with a huge jump of nearly 25% tax payers will it exceed its tax targets?

(Article by Bhagyashree Pande)
Disclaimer: This article has been taken from the below link as sent by the writer. THE NEWSMAN OF INDIA.COM does not take any responsibilty taking this article into consideration)

More income tax payers, but will collections exceed targets ?

Government News

Comments are closed.