HYDERABAD: In what must come as a revelation, the cost to collect income-tax in India is the second lowest in the world. “We spend just 57 paise to collect every hundred rupees in income-tax,” said Shishir Agarwal, Chief Commissioner of Incom-Tax, Hyderabad, here on Thursday.
Addressing a seminar hosted by FTCCI, ‘Post Union Budget: Implication for trade and industries,’ in their Red Hills office, Agarwal said that the UK spendt 73 paise, Japan 174 paise, Germany 135, Canada 150 and France 111. “Only the USA spends less than us,” he said.
“I come from a department which people love to hate. No one wants us to visit them in our official capacity. But, we are doing really well. The numbers reflect our performance. For 2021-22, we have collected an all-time high tax. The net direct tax collections (income-tax and corporate tax) reached an all-time high of Rs 14.09 lakh crore. This year also has been good at Rs 14.08 lakh crore from April to December, which is…
