Direct taxes to exceed target of Rs 11.5 trillion in 2018-19: CBDT chairman

In 2017-18, the revised estimate was higher than the Budget Estimate by 2.6%

The government will exceed the direct tax target of Rs 11.5 trillion in the financial year 2018-19, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on Friday. This will either help the government in restricting fiscal deficit to 3.3 per cent of the gross domestic product (GDP) as planned or assist in reducing fiscal slippage, in case that happens. 

Chandra was speaking on the sidelines of an event commemorating revenue department officers on the occasion of the annual investiture ceremony and International Customs Day. 

Revenue from direct taxes has assumed great importance due to a shortfall