Home News Reports Income Tax collection in the country reaches a new record, Rs 10.03 Lakh Crores in 2017-18

Income Tax collection in the country reaches a new record, Rs 10.03 Lakh Crores in 2017-18

Income Tax collection reached a record high with the Central Board of Direct Taxes (CBDT) confirming the figures reaching a whopping Rs 10.03 lakh crores, during 2017-18. A new record in the total number of I-T returns filed during the financial year was also set, reported Financial Express.

Shabri Bhattasali, Member of CBDT stated while addressing a two-day conference of the I-T administrators of Eastern Zone at Guwahati on Friday that during 2017-18, a record number of 6.92 crores I-T returns were filed, which was 1.31 crore higher than the 5.61 crore returns filed in 2016-17. She further added that the department registered 1.06 crore new taxpayers filing returns during 2017-18 and it aims to add 1.25 crore new filers for the year 2018-19. The North East region too saw an increase in the number of filers which stood to 1.89 lakh, she said.

The Principal Chief Commissioner of Income Tax, North Eastern Region, L C Joshi Ranee, reportedly confirmed that Rs 7,097 crore tax was collected from the region during 2017-18, which was 16.7% higher than Rs 6,082 crore collected in the preceding year. He furthered that the next target for the region in 2018-19 has been set at Rs 8,357 crore, which if achieved would be 17.75% more than last year’s collection.

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Ranee further added that ‘Aaykar Seva Kendras’ are operational in 22 out of 29 stations in the North East Regions. The I-T department aims to increase its taxpayer base while delivering superior service and these kendras are helpful to the public. He also added that the department aims to open more Ayakar Seva Kendras in remote areas for the service of people.

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