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Tuesday August 11, 04:10 PM
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Govt aims to up tax target, phase exemptions - Mukherjee
NEW DELHI (Reuters) – The government will aim at a higher direct tax receipts target of 4 trillion rupees ($83 billion) from the budget estimate of 3.7 trillion rupees in the year to March 2010, the finance minister said on Tuesday.
He told tax officials at a conference that tax rates should remain moderate and exemptions should be gradually phased out.
"Given the likely impact on government finances due to unanticipated drought, I will like to suggest a further upward revision in the direct tax collection target," he said.
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