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Direct Tax Target for Small, Big Cities Revised by Finance Ministry
May 27, 2019
The finance ministry has revised the tax collection target for smaller and bigger cities for the financial year 2019-20. It’s decreased the target for the former and increased for the latter which mainly includes Delhi and Mumbai. However, the total target is kept unchanged at ₹13.8 trillion.
The ministry issued a circular recently in which it said that the new targets have been calculated on the basis of the weighted average growth rate of the collections of the past 3 years.
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