Direct Tax collection likely to miss target this year.

With the direct tax collection growing at a slower pace of 9% this fiscal so far, the government is likely to miss the revenue mop up target for the 2011-12.

According to the data released by the Finance Ministry, the net direct tax mop-up during the April-January period rose 9.28% to Rs 3.46 lakh crore mainly on account higher realisation of personal income tax and corporate tax.

The government, however, may miss the full year direct tax collection target of Rs 5.32 lakh crore which envisaged a growth of 19% over the last year.

Departmental Exam 2012 : Likely to be held in June

In the meeting held with DIT (Exam) on 27th Jan. 2012, it has been decided that the Departmental examination for the year 2012 will be held within the 2nd week of June 2012.

Present status of Cadre review and restructuring

 "DOPT has cleared the Cadre restructuring proposal. According to our understanding there has been a reduction of 391 posts in the Group A cadres up to the level of DCIT. The proposal in respect of Gr.B&C has already been cleared by the Department of Expenditure and Finance Minister without any changes. Now the cadre restructuring proposal is expected to go to the group of Secretaries and then to the Cabinet for clearance."
Source : ITEF

Nearly 8,500 income tax officers on protest, fewer search and survey

For some time, well-heeled individuals and corporates may not lose sleep over fears of tax sleuths knocking on their doors.

Close to 8,500 gazetted income tax employees in the rank of I-T officers (ITOs), assistant commissioners and administrative officers have gone on a nationwide agitation. The outcome, said tax circles, will be fewer tax surveys and raids.

ITGOA revives agitation

ITGOA restarts agitation from 31.01.2012 protesting against the delay in ITO to ACIT promotions for the R.Y. 2010-11 and 2011-12, Unjust delay in ACIT to DCIT promotions, Unjust reduction in ACIT/DCIT posts in Cadre Review report and large scale all India transfer to JCITs.
ITGOA appeals ITEF to join the agitation.
View the letter From ITGOA to CBDT