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Hopeful to achieve tax collection target: CBDT chief

Press Trust of India  |  New Delhi 

The CBDT today said it is hopeful of meeting the direct tax collection target for this financial year.

(CBDT) Chairman Sushil Chandra told reporters here that the department "expects to meet the target" and collections will be on expected lines in the remaining months of the fiscal that ends on March 31 next year.

"We are moving at 11.3 per cent net growth and collections till now have been good," he said.

As per last updated data, Rs 3.77 lakh crore was collected in direct taxes during the April-October period of 2016-17, 10.6 per cent higher than collections in the same period a year ago.

"Till October 2016, 44.5 per cent of the budget estimates of direct taxes for 2016-17 fiscal has been achieved," the CBDT had said.

Direct tax collection is estimated to grow by 12.64 per cent to Rs 8,47,097 crore in the current fiscal from Rs 7,52,021 crore in 2015-16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 17:13 IST