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Strategies for revenue mop up, tax administration reforms and strengthening of TDS machinery will come up for deliberations at a conference of chief commissioners of income tax here on Tuesday.
Finance Minister P. Chidambaram will inaugurate the 29{+t}{+h} annual conference of chief commissioners of income tax and Directors General of income tax.
Despite a marked economic slowdown, the Centre has set an ambitious direct taxes mop-up target of Rs 6.7 lakh crore, an increase of 18 per cent over the previous year.
The Centre is betting big on corporate taxes this fiscal despite the Revenue Department not meeting last year’s Budget estimate.
The revised estimate for corporate taxes in 2012-13 was lower than the Budget estimate by a good Rs 15,000 crore.
For the current fiscal, the corporate taxes collection target has been pegged at Rs 4.20 lakh crore, a 12 per cent increase over the Budget estimate of last year.
Personal income tax collection target for 2013-14 has been pegged at Rs 2.48 lakh crore, reflecting a 26 per cent increase over last year.
The two-day conference will also discuss deepening of tax base, improving tax payer services and human resources management, it is learnt.
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