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LATEST NEWS UPDATES | Mid-year review: Only five tax regions manage to achieve revenue mop-up goals -Rahul Wadke

Mid-year review: Only five tax regions manage to achieve revenue mop-up goals -Rahul Wadke

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published Published on Nov 12, 2018   modified Modified on Nov 12, 2018
-The Hindu

Mumbai among biggest laggards with 3.8% growth in collections against a target of 13.3%

Mumbai:
The Income Tax Department may miss the revenue collection target for this fiscal going by the numbers for the first two quarters. Out of 18 income tax regions in the country, only five — Delhi, Uttar Pradesh (E), Uttar Pradesh (W), Odisha and the North-East — have managed to achieve the revenue goals in the two quarters.

According to the Central Board of Direct Taxes (CBDT) mid-year review, Mumbai region was one of the biggest laggards with 3.8 per cent growth in tax collection against a target of 13.3 per cent.

At the beginning of every fiscal, the CBDT sets the targets in the Central Action Plan for the full year. The plan document is the key roadmap for enhancing revenue collection.

Out of 18 tax regions, the Mumbai region, being the commercial capital, contributes the largest share of income tax revenue. For 2018-19, the CBDT has set Rs. 3.70 lakh crore as the target for Mumbai, while the all-India target is Rs.11.50 lakh crore. In percentage terms, out of the total revenue collection, Mumbai is expected to contribute 32.24 per cent.

A senior IT official told BusinessLine that the Chairman of CBDT had undertaken a review of all 18 regions and had communicated in the last week of October his appreciation and displeasure to all the Principal Chief Commissioners of Income Tax. Mid-year performance is a part of Key Result Areas (KRAs) for the Principal Chief Commissioners. Time-bound disposal of scrutiny cases, tax arrears demand, disposal of cases by Chief Income Tax Commissioner (Appeals) are some of the other KRAs.

Top performer

The mid-year review also showed that the Delhi region, which was given a target growth rate of 15.4 per cent, has managed to achieve an actual growth rate of 52.8 per cent. For the current fiscal, the total revenue target for the Delhi region is Rs.1.50 lakh crore. For industrially developed region such as Pune, the target was 20.1 per cent while it managed to keep its head above waters by achieving growth of 15.4 per cent. The total revenue target for the Pune region is Rs.61,931 crore, the official said.

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The Hindu Business Line, 11 November, 2018, https://www.thehindubusinessline.com/economy/mid-year-review-only-five-tax-regions-manage-to-achieve-revenue-mop-up-goals/article25469517.ece?homepage=true


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