Direct Tax Collections up by 11 per cent
A CBDT Press Release says that Gross direct tax collection during April-January of the Financial Year 2014-15 is up by 11.38 percent at Rs. 5,78,715 crore as against Rs. 5,19,588 crore collected during the same period last year.
The Finance Minister hoped to collect Rs. 7.36 crores as direct taxes in this fiscal. They have got him 5.79 crores - they still have to collect 1.57 crores. As per the target, they should have collected Rs. 6.15 crores by end of January. Their shortfall is only 34,000 crores. So they may give the FM the money he wants.