Negative growth in regular tax collections-CBDT calls it an alarming situation. Only only 85.10% of FY 2018-19 target collected as on 23.03.2019.
In a Departmental Letter (DO), addressed to all Pr. Chief Commissioner of Income Tax, the CBDT has expressed dissatisfaction over the tax collections achieved in financial year 2018-19 against the targets.
It has been stated that as per the progress of budget collection based on the figures of OLTAS, as against the budget collection target of Rs. 12,00,000 Crore , only 85.10% of the target at Rs.10,21,251 Crore has been collected as on 23.03.2019 .
The minor head-wise analysis has been stated to have indicated worsening trend of negative growth in regular collections at – 6.9% as against – 5.2% in the last week, which according to the CBDT is an alarming situation needing immediate attention.
The CBDT has stressed that regular assessment tax is bench- mark of the their performance as it is based upon quality of demand raised which can further be converted into actual collections.
CBDT has regretted that despite having discussed tax collection strategies, these have not resulted into improved collections as the figures of collection give a different account.
Accordingly, all Pr CIT have been asked to take all possible actions urgently, especially with respect to recovery of arrear and current demand, so as to achieve the targets for collection.