The Central Board of Direct Taxes (CBDT) on Tuesday said it was not only confident that the Income Tax (IT) department would achieve the direct tax collection target for the current financial year, but that it would go past it. "The collections (under the
income tax, personal tax and other direct tax categories) have been buoyant and very good. I am very happy to say that the net growth of collections is about 15.2 per cent at the moment and I would say that the individual assessees under the advance tax category
have responded very well. "The advance tax of the individual assessees rose by 30 per cent, which is quite heartening for the department," CBDT Chairman Sushil Chandra said. He added that the department had witnessed an overall increase of 20 per cent in returns
filed post demonetisation and hence, the "tax will be much more". - www.business-standard.com[15-11-2017]