Budget 2019: Direct tax collection shoots up to Rs 12L cr from Rs 6.38L cr
New Delhi: Direct tax collections have moved up from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore while the tax base swelled from 3.79 crore to 6.85 crore, Finance Minister Piyush Goyal said on Friday.
Presenting the interim Budget for 2019-20 in the Lok Sabha, Finance Minister Goyal said that nearly 99.54 per cent returns have been accepted without any scrutiny.
“The simplification of the direct tax system will benefit taxpayers. Direct taxes have been reduced. The tax interface made simpler and faceless to make life easier, resulting in an increase in tax collections and return filings,” said Goyal.
“Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials,” said the Finance Minister.