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Worried officials: Central govt increases tax collection target

This year’s revised revenue collection target is Rs19,779 cr

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Income tax officials in Rajasthan are worried after the department has received increased revenue target. They have to collect daily Rs 360.84 crore to meet the target whereas at present the collection is meager 33%.

The central government has increased direct tax collection target by 25000 crores. The state is already lagging behind. Now, it has received target of Rs 1592 crore. To meet this target, chief commissioner has divided it between all commissioners and director general IT investigation.

According to sources, this year’s revised revenue collection target is Rs 19779 crore. Earlier, it was 18187 crore. The biggest reason for not meeting target is 100% penalty on undeclared income when caught.

IT revenue collection in January this year was Rs 12814.10 crore whereas it was Rs 12815.90 in January 2017. The difference is not much but this shows that increased budget target of Rs 1592, he sources said that there was not much improvement in the month of February. Official data shows Rs 13644.80 crore revenue collection on March 2.  This is slightly more than Rs 13476.07 for the same corresponding period last year.

The decline in manufacturing and sluggish business has resulted in lower income for the taxpayers. In this scenario meeting, the target is a horrendous task for the IT department. The officials said that even if they work on weekends and pressurize taxpayers, the average daily requirement of Rs 211.52 crore to meet the target is almost impossible.

Equation to achieve target

State’s revised budget target Rs 19779cr
Revenue received till 2 March 2018 Rs 13644.80cr
Difference Rs 6134.20cr
Remaining working days: 17 (After deducting total 12 days including four Sundays, five Saturdays and three national holidays)
Per day revenue collection 6134.20/17 =360.84cr

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