The Centre, struggling to rein in its fiscal deficit at 3.2 per cent of gross domestic product (GDP), faces worries on the direct taxes front too. The Central Board of Direct Taxes (CBDT) has asked for a lower collection target than that given in the Budget Estimates this financial year, owing to subdued economic activity. Continued weakness in investment was expected to impact corporation tax collections, prompting the department to seek a lowering of the steep target of Rs 9.8 lakh crore, 15.7 per cent higher than last year’s collection, said sources.
The department ...
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First Published: Mon, December 04 2017. 00:17 IST
