Recently, the income-tax officers had received verbal instruction to hold back tax refunds till March 31
Tax officials in various commissionerates in the country are pressurized to meet the income tax collection target, according to a media report.
Recently, the income-tax officers had received verbal instruction to hold back tax refunds till March 31.
The total income-tax target for the financial year ended 31 March 2014 is Rs. 7.35 trillion. The government is expected to raise Rs. 2.84 trillion from personal income-tax, while Rs. 4.51 trillion is expected to be collected from the corporate tax for FY14.
But the actual tax collected is Rs. 1.66 trillion from personal income-tax, while the collection for corporate tax stands at Rs. 2.77 trillion between April and December, the report further said.
Tax officials in various commissionerates in the country are pressurized to meet the income tax collection target, according to a media report.
Recently, the income-tax officers had received verbal instruction to hold back tax refunds till March 31.
The total income-tax target for the financial year ended 31 March 2014 is Rs. 7.35 trillion. The government is expected to raise Rs. 2.84 trillion from personal income-tax, while Rs. 4.51 trillion is expected to be collected from the corporate tax for FY14.
But the actual tax collected is Rs. 1.66 trillion from personal income-tax, while the collection for corporate tax stands at Rs. 2.77 trillion between April and December, the report further said.
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