Union Budget 2020: Corporate tax growth of 12% for FY21 'unrealistic'

India Inc tax collections to fall 8% in FY20

Even as the Indian government announced in the Budget that it would fall short in meeting the corporate tax collection target for the current year, it has set an ambitious 12 per cent growth in tax collections from India Inc for the next fiscal year.

“The tax collection targets from Corporate India are unrealistic and are too ambitions, especially when the government has announced hefty tax cuts,” said a chief financial officer of a large company.

The increased tax target comes at a time when consumer spending and sales growth are slowing down and most companies are not investing in