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

Complete turnaround two years away for PSBs despite capital infusion: Moody's

After the government announced Rs 48,239 crore capital infusion into 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans, global......

Finance Ministry to recapitalise 12 PSBs with capital infusion of Rs 48,239 crore

In a bid to take public sector banks (PSBs) out of Reserve Bank of India's (RBI) prompt corrective action framework, the Finance Ministry has decided to recapitalise 12 PSBs with capital infusion of Rs......

FDI falls 7% to $33.49 billion during April-December of FY19

The Commerce and industry ministry in its latest data has showed that in the first nine months (April-December) of current financial year (FY19) Foreign direct investment (FDI) into India contracted by......

Top News

View all news

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......

BEL signs teaming agreement with Hughes India for Helicopter Satcom Solutions

Bharat Electronics (BEL) and Hughes India have entered into a Teaming Agreement for design, development, supply, installation, integration and commissioning of Satellite Communication solutions for helicopters......