New tax slabs proposed in Budget to benefit taxpayers: CBDT chairman

The direct tax collection target has been downward revised to Rs 11.80 trillion in the Union Budget after making a "realistic assessment" of various economic factors, a top government official said.

The set target for revenue collection (personal income tax, corporate tax and others) was Rs 13.35 trillion for the 2019-20 financial year that ends on March 31.

"Those (earlier) estimates have been revised in the budget and our new target would be about Rs 11.80 trillion which I am pretty confident that we will achieve it," CBDT Chairman P C Mody told PTI in a post-budget interview.

Asked about the reasons for