Breaking News

You are here » Indian-Commodity  :  Economy  :  India's I-T collection reaches record high of Rs 10.03 lakh crore in FY18: CBDT

20-Aug2018

India's I-T collection reaches record high of Rs 10.03 lakh crore in FY18: CBDT

The Central Board of Direct Taxes (CBDT) has informed that India's Income-Tax (I-T) collection peaked a record high of Rs 10.03 lakh crore during the financial year 2017-18. CBDT member, Shabri Bhattasali has indicted that a record number of 6.92 crore I-T returns were filed during 2017-18, which was 1.31 crore more than 5.61 crore returns filed in 2016-17. She also noted that the income tax department added 1.06 crore new return filers during 2017-18 and is aiming to add 1.25 crore new tax payers in the current financial year. She added that this number was 1.89 lakh in the North Eastern Region.

Chief Commissioner of the Income Tax Department (North Eastern Region) LC Joshi Ranee has stated that Rs 7,097 crore tax was collected from the region during 2017-18. He also said that this is 16.7 percent higher than Rs 6,082 crore collected in the preceding year. Besides, he mentioned that the target in the region for 2018-19 has been fixed at Rs 8,357 crore, 17.75 percent more than last year's collection.

Stating that the department is committed to meet the target tax collection, Ranee said increase taxpayer base and deliver superior services, 'Aaykar Seva Kendras' have already been opened in 22 out of 29 stations in NER. He added that new offices are being opened in far-flung areas to deliver taxpayer services.


Related News

View all news

Jaitley makes case for blending subsidy with investment to augment agri sector growth

In order to boost farm sector growth and make it sustainable and self-sufficient, Finance Minister Arun Jaitley made a case for blending subsidy with investment. He said formalisation of the economy has......

States likely to miss debt-to-GDP ratio target of 20% by FY23: Ind-Ra

The India Ratings and Research (Ind-Ra), a subsidiary of Fitch Ratings, has warmed that the states are likely to miss the 20% debt-to-GDP ratio target by fiscal year 2022-23 (FY23) as most of them have......

Merger of public sector banks to improve efficiency, governance: Moody's

A day after the government proposed to merge three public sector banks, global credit rating agency, Moody's Investors Service has said that merger of Bank of Baroda, Vijaya Bank and Dena Bank will be......

Top News

View all news

TCS iON enters into strategic business partnership with The Training Room

Tata Consultancy Services' (TCS) strategic business unit TCS iON has entered into a strategic business partnership with The Training Room, a leading UK provider of technical training courses and careers......

IGL plans to add 60 CNG stations, give 2 lakh connections in FY19

Indraprastha Gas (IGL) is planning to add a record 60 CNG dispensing stations and give piped cooking gas connections to at least 2 lakh households this fiscal as it steps up efforts to achieve the government's......

RCF to begin work on coal gasification based fertilizer plant at Talcher: Report

Rashtriya Chemicals and Fertilizers (RCF) will reportedly commence work on the coal gasification based fertilizer plant at Talcher in state of Odisha. The company has got approval for equity investment......