Government to collect Rs.7.45 lakh crore tax in 2010-11

Sep 29, 2010 |

IANS

Tags:

tax collection

The government is confident of meeting its tax revenue target of Rs.7.45 lakh crore for the current fiscal, Revenue Secretary Sunil Mitra said Wednesday.

"We will certainly meet the target. The tax collection so far this year has been quite good," Mitra told reporters on the sidelines of an event organised by Confederation of Indian Industry (CII) here.

He said an impressive increase in indirect tax collection would make it easier to achieve the total tax revenue target of Rs.7.45 lakh crore.

Revenue from indirect taxes that include customs, central excise and service tax surged nearly 46 percent to Rs.1,24,170 crore in the first five months of this fiscal.

According to the budget estimate, the government targets Rs.3.16 lakh crore revenue from indirect taxes and Rs.4.3 lakh crore from direct taxes that include individual income and corporate taxes.

Direct tax collection increased 13.91 percent to Rs.1,00,112 crore during April-August period.

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