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Confident of meeting Rs 11.7-trn direct tax collection target in FY20: CBDT

Income tax collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion

Press Trust of India  |  New Delhi 

tax collection
CBDT said the tax department will use technology and encourage voluntary compliance

The tax department is "reasonably confident" of meeting the revised of Rs 11.7 trillion in current fiscal, a senior official said on Wednesday.

Central Board of Direct Taxes (CBDT) Chairman P C Mody said the department is doing data mining and using artificial intelligence to augment revenue, and will not undertake any coercive action.

“Whatever estimates have now been given, I think there is absolute realism to that... I am reasonably confident that we will be able to meet this year's target,” Mody said at a CII post-budget interaction.


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He said so far has been fairly good and, historically, tax collections are highest in the last quarter of fiscal.

Of the total for 2019-20, estimated collection stands at Rs 5.59 trillion and corporate tax mop at Rs 6.10 trillion.

With regard to 2020-21 fiscal direct tax revenue target, Mody said the tax department will use technology and encourage voluntary compliance.

“We are going to make use of technology in a big way. We are doing data mining, using artificial intelligence very very extensively. And the results of that will be visible in the time to come,” he said.

collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion.

First Published: Wed, February 05 2020. 18:43 IST
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