labels: industry - general, economy - general, governance
I-T dept to increase efforts at widening tax base news
06 July 2005

New Delhi: The Income tax department is planning to widen the tax base and will discuss measures to be taken today.

Among other items the department will focus on individuals earning more than Rs10 lakh per annum.

Other items of focus of finance minister P Chidambaram and the income tax department will be maximising tax collections, reducing arrears, rationalising reporting systems, scrutinising norms and preventive vigilance.

The revenue department has said that field officers should try to raise the overall number of assessees by 15 per cent during the year, more people are sought to be brought under the Rs10lakh bracket and this category will be raised by 50 per cent. At present, there are around 80,000 assessees in this category.

The finance minister wants the government to increase spending on intelligence and information gathering than on resorting to searches and seizures.

 


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I-T dept to increase efforts at widening tax base