Govt stresses need on voluntary tax compliance

KOLKATA: The government today said there is a need for voluntary tax compliance on the part of the taxpayers.


"The government believes in a non-adversarial tax regime. This is why there is a need for greater voluntary tax compliance," Minister of State for Finance (Revenue) J D Seelam said.

There is also a need for widening of the tax base, so that lower rates of tax could be levied on a large number of taxpayers instead of higher rates on a few, he said at the AGM of MCCI chamber here.

Seelam said during the first half of the current financial year, the expected tax collection would be between 40 per cent to 45 per cent.

"We are confident of meeting the target as collection picks up in the last two quarters," the minister said.

Seelam said the current account deficit (CAD) would be contained at 4.8 per cent of GDP.