Jaitley to inaugurate income tax conference on Monday

New Delhi: Union Finance Minister Arun Jaitley will inaugurate the 31st annual conference of senior income tax officials on Monday here.

Finance Minister Arun Jaitley
Finance Minister Arun Jaitley

The two-day conference will also be attended by Jayant Sinha, Minister of State for Finance, Shakti Kanta Das, Revenue Secretary, the senior officials of Revenue Department, including Anita Kapur, Chairperson, CBDT and Members of Central Board of Direct Taxes (CBDT) along with the senior officers of the Ministry of Finance and Income Tax Department.

The thrust areas will be ways to create a non-adversarial tax regime, expeditious settlement of tax payers’ grievances and significant expansion of tax base.

The participants will deliberate on the strategies to achieve the goals of the Income Tax Department in these areas.

The participants will also deliberate on matters pertaining to income tax investigations and issues relating to human resource development among others.

The target for revenue collections in case of direct taxes has been fixed at Rs.7,97,995 crore during fiscal 2015-16, which is 14.66 percent higher than the actual collections of Rs 6,95,988 crore during fiscal 2014-15.

Besides it, various strategies for revenue augmentation, including to augmenting advance tax, TDS collections, regular assessment tax collections, self assessment tax and dividend distribution tax, among others, will also be discussed during the conference.

The participants will also be addressed by Arvind Panagariya, Vice Chairman, NITI Aayog and Babasaheb Neelkanth Kalyani, Chairman and Managing Director (CMD), Bharat Forge Ltd.

The conference will end with a valedictory session on Tuesday presided over by Revenue Secretary Shakti Kanta Das.