While re-calibrating and fixing direct taxes collection
target for FY 2019-2020 at Rs 13.35 lakh crore, CBDT chief P C Mody had said last
year that it was difficult but achievable. But even after the completion of
three quarters of FY 2019-2020 the collection figures of Direct Taxes is
nowhere close to it. Indianmandarins has reliably learnt that on completion of
third quarter (ending 31.12.2019) the all India collection of Direct Taxes is far less (-
6%) than the collection as compared to the corresponding period last year. The
deficit is primarily attributed to the weak performance of metro cities. The
down trend may be shown as follows: Mumbai: (-5%) It is to be seen whether CBDT would be able to hit the target of
Rs 13.78 lakh cr or even maintain the previous year’s figure. The collection figures are clear indicator that relatively smaller cities have to play critical role in the wake of weak contributions by metro cities and country's commercial capitals. FACTS AND FACETS:
Delhi: (-10%)
Bangalore: (-7%)
Chennai: (-2%)
Jaipur: (-20%)
While re-calibrating and fixing direct taxes collection
target for FY 2019-2020 at Rs 13.35 lakh crore, CBDT chief P C Mody had said last
year that it was difficult but achievable. But even after the completion of
three quarters of FY 2019-2020 the collection figures of Direct Taxes is
nowhere close to it.
Indianmandarins has reliably learnt that on completion of third quarter (ending 31.12.2019) the all India collection of Direct Taxes is far less (- 6%) than the collection as compared to the corresponding period last year. The deficit is primarily attributed to the weak performance of metro cities. The down trend may be shown as follows:
Mumbai: (-5%)
Delhi: (-10%)
Bangalore: (-7%)
Chennai: (-2%)
Jaipur: (-20%)
It is to be seen whether CBDT would be able to hit the target of Rs 13.78 lakh cr or even maintain the previous year’s figure. The collection figures are clear indicator that relatively smaller cities have to play critical role in the wake of weak contributions by metro cities and country's commercial capitals.
FACTS AND FACETS: