 "FY13 TDS collection for Mumbai circle to be 10% higher than FY12")
According to senior Income Tax officials, TDS collection from Mumbai circle is estimated to be 10% higher for FY2013, as compared to last fiscal. This, when the I-T department had targeted to expand its tax kitty from TDS by atleast 13-14% for FY13.
The I-T department is now expecting that it will be able to mop up collections of around Rs 63,000 - 64,000 crore for FY13.
Out of the total Rs 63,000 crore, about Rs 50,000 crore will come from retail tax, Rs 8,000 crore from international tax and Rs 5,000-6,000 came from LTU.
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