Business Standard

Sunday, January 05, 2025 | 10:24 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Finance Minister Monitors Tax Collection Closely

Image

BUSINESS STANDARD

In a bid to step up revenue collections in the coming months of 2001-02, finance minister Yashwant Sinha is himself monitoring the tax mop-up closely.

Sources said that as a step to ensure better collections, the finance minister along with the minister of state for finance (revenue) G Ramachandran reviewed tax collections in the Mumbai region last week.

They added that a review of the Delhi region was initiated today, and more regional reviews were likely to be done in the coming weeks.

On the direct tax side, the Central Board of Direct Taxes (CBDT) is concentrating on the pending arrear cases, and tax deducted at source (TDS) for improving tax collection.

 

Sources said that the Central Board of Direct Taxes was targeting to bring down the disposal of pending arrear cases to less than six months by December. They added that the department was focusing on the cases concerning above Rs 1 crore of arrear demand.

The CBDT will also tap those who have stopped filing their returns, for improving tax collection, said an official.

Direct tax realisation during the period April-August this year has witnessed a decline of around 18 per cent over last year

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 19 2001 | 12:00 AM IST

Explore News