The government is poised to surpass the direct tax collection target of Rs 22.07 lakh crore set for the current fiscal year, according to Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal. Speaking on Monday, Agarwal expressed confidence in exceeding the ambitious target based on robust collections from both corporate and non-corporate taxes.

As per PTI, the CBDT chairman also reminded taxpayers who have not disclosed their foreign income or assets in their Income Tax Returns (ITRs) that they have until 31 December to file revised returns for the 2023-24 fiscal year. To encourage compliance, the tax department is reaching out via SMS and email to individuals identified as holding high-value assets but failing to report them.