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New Delhi, Aug. 10

The Finance Minister, Mr Pranab Mukherjee, will on Tuesday inaugurate the 25th Annual Conference of Chief Commissioners and Directors General of Income-Tax. Mr Mukherjee will deliver the keynote address on Tuesday. The valedictory address will be delivered by the Minister of State for Finance (Revenue), Mr S.S. Palanimanickam, on Wednesday, an official release said. The two-day conference will deliberate upon ways and means to maximise direct tax collections, improve taxpa yer services and optimise response to taxpayer grievances besides discussing issues relating to working of the Income-Tax Department. Direct taxes have grown at an annual average of 26.5 per cent a year in the last five years and more than trebled from Rs 1,05,088 crore in 2003-04 to Rs 3,38,212 crore in 2008-09, the release added. The cost of collecting taxes had declined from 1 per cent to 0.58 per cent, among the lowest in the world.

– Our Bureau

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