Fm To Review Direct Tax Collections Today

Finance minister Yashwant Sinha will undertake a review of the Central Board of Direct Taxes (CBDT) on October 11. The CBDT review will take stock of the direct tax collections in the first half of the fiscal and the likely trend during October 2001-March 2002.

According to senior finance ministry officials, gross tax collections in the first half of the fiscal stood at a little over Rs 89,000 crore, about Rs 700 crore more than the mop-up in the corresponding period last fiscal.

However, the refunds were higher at about Rs 12,000 crore as against Rs 9,000 crore during the first half of the last fiscal.

Officials said the excise collections did not show any improvement in September.