The income tax department issued about 2 crore refunds for an amount of about ₹1.09 trillion, till last week. Photo: Mint
New Delhi:
The net direct tax collection in the country grew by 15.7% on
year-on-year basis to reach ₹4.89 trillion in the current fiscal till
third week of October, a senior official on Monday quoting from the
latest data.
This marks over 42% of the full-year direct tax collection target of ₹11.5 trillion for the fiscal ending
31 March 2019.
The
CBDT official also the income tax department issued about 2 crore
refunds for an amount of about ₹1.09 trillion, till last week.
The Central Board of Direct Taxes (CBDT) is the policy-making body for the Income Tax Department (ITD).
As
per the latest data, the number of taxpayers getting refunds is up by
62% from 1.22 crore refunds in the corresponding period of the last
fiscal. In terms of the refund amount, there has been a surge of 31.7%
from ₹83,000 crore refunded to taxpayers in the corresponding period
last year.
The department, the official said, received 5.8 crore IT Returns (ITRs) till 21 October as compared to 3.6 crore returns during the same period of last fiscal.
“This is an increase of about 61%,” the official said.
As
part of its efforts to widen and deepen the taxpayer base in the
country, the CBDT has given a target to the income tax department to add
1.25 crore new people by end of the current fiscal, the official said.
Last year, 1.06 new income tax assesses were added, he added.
The present taxpayer base in the country is over 6.26 crore.
The
department sent about 1.85 crore emails and SMSes to assessees and
taxpayers during the last quarter of the last fiscal 2017-18
(January-March), asking them to file their ITRs and pay taxes based on their tax history or some new information received by the taxman about their transactions, he said.