New Delhi: Revenue Secretary Ajay Bhushan Pandey on Wednesday said the revised direct tax target of Rs 13.35 lakh crore is realistic and achievable with the help of economic growth and exchange of data amongst various agencies and wings of the government.
“In the interim Budget, it (Direct tax target) was Rs 13.80 lakh crore. Now we are saying Rs 13.35 lakh crore. It is a real statement. We are collecting data from various places, we feel that there will be an efficiency gain as tax collection depends on two things —growth and efficiency,” Pandey said on the sidelines of a finance ministry event to mark the Income Tax Day. “We have grown at 14 percent last year. This year we are having the data exchange GST, customs and various other authorities, info from banks, filing of returns, all these will give us efficiency gains including data in the capital market, GST, banks, customs, e-filing of returns, export and import”, Pandey said.
He said there is a scope for bringing more people into the tax net. The CBDT will embark on faceless assessment for taxpayers and required procedures are being put into place for this. (IANS)