17 individuals owe a whopping Rs 2.14 lakh crore tax arrears

Last Updated: Thursday, July 30, 2015, 19:54

Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore.

Government asks top taxmen to ideate for widening tax base

Last Updated: Sunday, June 14, 2015, 13:08

The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year 2015-16.

Govt will have to forget direct tax of Rs 6.73 lakh crore

Last Updated: Monday, June 8, 2015, 13:31

A paper presented during the recently held All India Conference of Chief Income Tax Commissioners stated that the department might recover 19% of Rs 8 lakh crore. But there's a rider: even this is going to be a 'tough task'.

Direct Tax target of Rs 7.98 lakh cr for FY'16 achievable: Das

Last Updated: Monday, May 25, 2015, 18:35

The Direct Tax collection target of Rs 7.98 lakh crore for the current financial year is likely to be met on account of improvement in economic growth, government said on Monday.

Higher tax collections to help improve fiscal deficit: Jaitley

Last Updated: Monday, May 25, 2015, 18:30

Finance Minister Arun Jaitley on Monday said direct tax collections for the current financial year were likely to increase by 14-15 percent, enabling the government to improve upon its fiscal deficit target of 3.9 percent.

Squeeze parallel economy in a fair manner: FM to taxmen

Last Updated: Monday, May 25, 2015, 13:00

Jaitley further said that improvement in tax collection will increase the ability of the government to step up spending on social and infrastructure projects.

We expect a growth of 14-15% in direct tax collections: FM Jaitley

Last Updated: Monday, May 25, 2015, 11:23

While addressing the conference he said that we have to bring tax rate at global level while t the same time removing the exemptions.

Government misses tax collection target by Rs 2,288 cr in FY15

Last Updated: Sunday, May 17, 2015, 18:17

Government has missed the overall revised tax collection target for both direct and indirect taxes by Rs 2,288 cr.

Direct Tax collections marginally short of target in 2014-15

Last Updated: Tuesday, May 5, 2015, 16:26

Direct tax collections touched Rs 6,96,200 crore during 2014-15 despite difficulties on the economic front, marginally falling short of the target.

Tax dues from companies at Rs 4.85 lakh crore: Finance Ministry

Last Updated: Tuesday, April 28, 2015, 15:43

Corporates owed over Rs 4.85 lakh crore approximately to the exchequer as outstanding tax demands, under direct and indirect taxes, towards the end of fiscal 2014-15, Parliament was informed on Tuesday .

Direct tax collection falls short by Rs 19,028 cr in FY15

Last Updated: Monday, April 6, 2015, 20:59

Initial numbers suggest that direct tax collection is short of the revised target by over Rs 19,028 crore, but the Income Tax Department is hopeful of meeting the target once figures from across the country come.

Govt's direct tax collection to miss revised target for FY15

Last Updated: Tuesday, March 31, 2015, 16:09

Government's direct tax mop-up is set to miss the revised target for the 2014-15 fiscal as the collection so far has been only about Rs 6,30,000 crore, an I-T department official said.