J.D. Seelam in Calcutta on Friday. A Telegraph picture
Calcutta, Sept. 27: The finance ministry is hopeful of meeting the revenue collection targets for 2013-14 despite the slowdown concerns.
Minister of state for finance (revenue) J.D. Seelam today said the government had witnessed a growth in revenue collection so far this year.
“We are witnessing an increasing trend in tax revenue collection,” Seelam said on the sidelines of the annual general meeting of the MCC Chamber of Commerce and Industry here today.
“The first quarter is usually slow because of transfers and refunds but in the remaining quarters it has to be made up,” he said.
Both direct and indirect tax collections have registered growth so far this year. Net direct tax collection in 2013-14 has grown 12.5 per cent till September 17, led by a surge in personal income tax mostly through advance tax payments.
Indirect tax collection in April-August has grown around 4.1 per cent.
Seelam said the ministry planned to send more cautionary letters to non-filers of income tax returns in the current year.
The tax department has recently issued such letters to about 35,000 non-filers.
He added that there was a need for voluntary compliance on the part of the taxpayers.
The finance ministry is also looking to develop a wider tax base so that lower rates of tax can be levied on a large number of taxpayers instead of higher rates on a few.