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The Finance Ministry has collected ₹9.5 lakh crore as taxes between April and December 31, 2015.
Tax authorities have also received ₹2,428.4 crore under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 against declarations worth ₹4,164 crore.
This amounts to 97 per cent of the amount due, Revenue Secretary Hasmukh Adhia tweeted.
“The total tax revenue collected up to December this year is ₹9.5 lakh crore or 66 per cent of Budget estimates,” he said.
The Centre has Budgeted ₹7.97 lakh crore from direct taxes and ₹6.47 lakh crore from indirect taxes in 2015-16.
“The shortfall is primarily on account of certain declarations for which there was prior information under the Double Taxation Avoidance Agreements and Tax Information Exchange Agreements or receipt of payment after 31st December, 2015,” the Central Board of Direct Taxes noted on Wednesday.
The CBDT said the Centre had received a total of 644 declarations during the special compliance window that closed on September 30.
“The declarants were liable to pay tax at the rate of 30 per cent and a like amount of 30 per cent by way of penalty on the value of assets declared, by December 31, 2015,” it said.
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