Feb 11, 2016 11:09 AM IST | Source: PTI

Tax mop-up crosses 68% in Mumbai; I-T Dept hopes to meet target

It has collected the list of traders who are paying VAT and have got themselves registered under Bombay Shops and Establishment Act, but have still not filed I-T returns.

Tax mop-up crosses 68% in Mumbai; I-T Dept hopes to meet target

The Income Tax Department has mopped up over 68 percent of the collection target from the city, the single largest contributor to the tax kitty, and is hopeful of garnering the fiscal's targetted amount.

"We have already collected Rs 1.75 trillion so far, which is 68.35 percent of our target for the year. We are hopeful of meeting the full year target of Rs 2.56 trillion, which will be a 15 percent growth over the past year," Principal Chief Commissioner of Income Tax and Head of Mumbai region, D S Saksena, told PTI here.

Commenting on the inclusion of new taxpayers, Saksena said, "We have been given a target of including 6.4 lakh new taxpayers by March and we have already added 1.5 lakh new taxpayers so far."

"We are first sending notices through SMSes and e-mails to all those people who have not filed any I-T returns so far. To those who are not responding to this, we are serving notices through Speed Post," he said.

The department has already sent such communications to 10 lakh people in the region so far.

It has collected the list of traders who are paying VAT and have got themselves registered under Bombay Shops and Establishment Act, but have still not filed I-T returns.

The department has set a target to include one crore more people under its tax net from around four crore at present, which comprises merely 3 percent of the country's population.

Earlier in the day, the finance ministry said it will achieve the tax revenue target for the current year with higher-than-budgeted indirect tax collections making up for a possible shortfall in direct taxes.

If it does so, it will be for the first time in five years that the government will meet its tax revenue target, which stands at Rs 14.49 trillion for 2015-16.

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