CBDT Hits ₹92,400 Crore Jackpot in Tax Recovery, Eyes ₹1 Lakh Crore Milestone by March 31

The Central Board of Direct Taxes (CBDT) has successfully recovered ₹92,400 crore in outstanding taxes for the financial year 2024-25 as of March 15. This includes ₹67,711 crore from corporate tax, ₹23,536 crore from personal income tax, and ₹1,100 crore from tax deducted at source. The recovery was achieved through targeted demand notices and a strategic action plan focusing on high-value cases. Officials anticipate total collections to surpass ₹1 lakh crore by March 31, as more taxpayers file revised returns. The CBDT plans to further enhance recovery mechanisms in the coming fiscal year.

 

Source: Economic Times