More services to taxpayers to boost compliance: CBDT Chief
Central Board of Direct Tax Chairman Nitin Gupta said robust tax collection numbers projected in the budget are attributable to multiple factors, including higher compliance. As of January 31, 2024, the department has witnessed average growth rate of 20-21% net of refunds.
In an interaction with Fortune India, Gupta said, “The numbers are robust. The growth rate which is projected in the revised estimate for the current year is 16.95% over the actual collections of the last year. It translates into a figure of Rs 19.45 lakh crore.”
“As of Jan 31, 2024, we are growing at an average rate of around 20% to 21%. This is the net collection after the issue of refunds. In that perspective we are hopeful that we will achieve the target that has been laid down for us even after factoring in the refunds that could be there, which have to be issued in the remaining two months of the financial year,” Gupta said.
“A single factor cannot be attributable to such marvellous growth in numbers. One is the better compliance by the taxpayers. But at the same time the technology that the department has used over a period of time, the facilitation that the department has given to the taxpayer is now giving dividends. I think taxpayers are confident that they are getting the services they were expecting. Factors like ease of return filing, prefilled returns are helpful for the taxpayers we believe and we are on the path to provide more and more services to the taxpayer to facilitate the process of tax compliance,” Gupta added.