Direct tax revenue up 20 per cent so far: FM
28 Feb 2011
Direct tax collections in India have grown 20 per cent so far in 2010-11 to Rs 3,35,000 crore, the nation's finance minister Pranab Mukherjee said Saturday.
''This sustained growth has been possible due to rationalisation of tax structure, improvement in tax administration and persistent efforts of the employees of the income tax department,'' the finance minister said.
Mukherjee was speaking at a function celebrating completion of 150 years of income tax in India, and releasing commemorative coins to mark the occasion.
The year-long celebrations were inaugurated by the finance minister on 24 July last year to mark completion of 150 years of income tax in India.
The chairman of the Central Board of Direct Taxes (CBDT) Sudhir Chandra said during the yearlong celebrations, the finance minister had released the citizen's charter and vision-2020 document on completion of 150 years of income tax in India.
The new commemorative coins are in denominations of Rs150 and Rs5. The Rs150 coin is unique for its denomination, size, and composition. The 44mm diameter coin is made of 50 per cent silver.
