Govt may exceed direct tax collection target of FY18 Budget estimates

Taxmen have been asked to stress on cash collection out of tax arrears and current tax demand raised by the tax department

Buoyed by the 18.2 per cent rise in direct tax collections in the first nine months of fiscal year 2017-18, the Central Board of Direct Taxes (CBDT) is confident about achieving its collection target for the current financial year.

The apex body has even set itself a target of crossing the Rs 10-trillion milestone. The Union Budget had estimated direct tax collection at Rs 9.8 trillion for the current financial year, which was internally raised by Rs 200 billion in the last quarter, sources said.

"As things stand now, we will definitely reach the collection target. The collection, under all