CBDT Tightens Grip on Tax Collections to Meet Rs 25.20 Lakh Crore Target
The CBDT has directed income-tax officials to closely monitor advance tax payers and identify wrongful claims to boost direct tax collections for the 2025-26 financial year. The Union government has set a target of Rs 25.20 lakh crore for direct taxes. The action plan also includes better taxpayer awareness and prompt refunds.
- Country:
- India
The Central Board of Direct Taxes (CBDT) is intensifying monitoring procedures to enhance tax collections, aiming to achieve a target of Rs 25.20 lakh crore for the 2025-26 fiscal year. Income-tax officials have been instructed to scrutinize top advance tax payers closely and identify fraudulent claims of exemptions and deductions.
The Union government has earmarked Rs 10.82 lakh crore from corporate tax, Rs 13.60 lakh crore from non-corporate taxes including personal income tax, and Rs 78,000 crore from securities transaction tax. Despite narrowly missing last year's target, collections grew by 13.57% to surpass Rs 22.26 lakh crore.
The action plan encourages sectoral analysis of tax payments, pushes for reassessment of advance tax liabilities, and calls for educational outreach to taxpayers on accurate claims. Additionally, it highlights the need for diligent arrear collection and prompt issuance of refunds.
(With inputs from agencies.)
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