FM Sitharaman bats for expanding tax net, ramping up collections

Revenue secy says I-T portal working fine, 300,000 returns being filed daily

Union Finance Minister Nirmala Sitharaman on Friday stressed on increasing the tax net for achieving higher revenue collection to finance socio-economic schemes run by the Centre and state governments. 

“A larger number of assessees means higher tax collection, which provides funds for development,” Sitharaman said during her address after inaugurating the new Income Tax building here. 

Close to 60 million returns are filed in direct taxes — both personal income tax and corporation tax. As many as 26.6 million returns have been filed as on November 21 during the current assessment year, according to the income tax site. 

Revenue secretary Tarun Bajaj said