Revenue Targets Increased - Hard Times Ahead for Taxpayers
ADDRESSING a review meeting of the officers of CBEC and CBDT in Chennai yesterday, the Finance Minister said that the Revenue Targets for this financial year will be increased by 4 percent for Direct Taxes and by 6 percent for Indirect Taxes. This means starting tomorrow, taxmen are going to hound you and somehow persuade you (read threaten you) to pay more taxes in the next two months.
The FM also wanted the officials to focus on increasing service tax collection. He pointed out that while the services sector has grown enormously, the rise in service tax collection was not commensurate.