Tax collection: CBDT to hold high-level meeting with I-T brass

With the current fiscal nearing end, the CBDT will hold a high-level meeting this week to review the status of overall tax collections from direct taxes and the progress in black money cases under the operation clean money.
Officials said Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra and other members of the policy-making body of the Income Tax Department will hold a video conference session with the top brass of department from across the country on March 14.
The subjects that will be reviewed by the board, they said, will include "strategies" for achieving the revised estimates of revenue collection under the personal income tax and corporate tax categories among others.

The recovery of taxes from arrears and current demand, enhancement of tax deducted at source (TDS) collections and disposal of appeals by the department will also be taken up, they said.
The cases of black money and stashed funds being probed under the operation clean money (OCM), launched to check illegal wealth post demonetisation in 2016, will also be taken up during the meeting, they said.
The current financial year 2017-18 will close on March 31.
The CBDT, last week, had said that direct tax collections has risen 19.5 per cent to Rs 7.44 lakh crore in the April-February period of the current fiscal, buoyed by a strong pick up in corporate tax.

The net direct tax collection represents 74.3 per cent of the revised target of the overall tax collections of Rs 10.05 lakh crore.