Direct tax collection 42 per cent higher: CBDT Chairman

Nagpur, Dec 20 (UNI) The actual collection of direct taxes this year has shown an increase of 42 per cent as compared to the same period during the previous financial year, according to Central Board of Direct Taxes (CBDT) Chairman Baljeet Matiyani.

Speaking to newspersons after inaugurating the induction course for the 60th batch of the Indian Revenue Service (IRS) at the National Academy of Direct Taxes (NADT) here this morning, Ms Matiyani said the actual collection of direct taxes as on December 16 this year was Rs 1,12,937 crore.

This was 42 per cent higher than the actual collection of Rs 79,511 crore during the same period last year, she said.

Ms Matiyani said that the collection this year included Rs 65,916 crore from corporate tax and Rs 43,310 crore from personal tax.

The target for tax collection for 2006-2007 was Rs 2,10,000 crore, Ms Matiyani said. The target last year was Rs 1,70,000 crore, while the actual collection was Rs 1,66,000 crore, she said.

The CBDT Chairman said that direct credit of income tax refunds to the accounts of tax payers had already begun.

However, several assessees had not mentioned their bank account numbers in the returns probably because they had apprehensions about doing so, Ms Matiyani said. However, there would be no action against such assessees, and only their refunds would be delayed, she added.

The collection from direct taxes was expected to surpass that from indirect taxes within a year, she further added.

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